Page 144 - annual report AUCT 2025_Eng

Business Operation and Operating Results Corporate Governance Financial Statements Attachments
financial assets subsequently become credit-impaired when it is applied to the net carrying amount
of the financial asset (net of the expected credit loss allowance).
Finance cost
Interest expense from financial liabilities at amortised cost is calculated using the effective interest
method and recognised on an accrual basis.
4.2 Cash and cash equivalents
Cash and cash equivalents consist of cash in hand and at banks, and all highly liquid investments
with an original maturity of three months or less and not subject to withdrawal restrictions.
4.3 Leasehold improvements, buildings and equipment and depreciation
Leasehold improvements, buildings and equipment are stated at cost less accumulated depreciation
and allowance for loss on impairment of assets (if any).
Depreciation of leasehold improvements, buildings and equipment is calculated by reference to their
costs on the straight-line basis over the following estimated useful lives:
Leasehold improvements
-
Lease period
Buildings
-
Lease period
Building improvements and facilities
-
Lease period
Furniture and fixtures
-
5-10 years
Office equipment
-
5 years
Motor vehicles
-
5 years
Depreciation is included in determining income.
No depreciation is provided on assets under installation.
An item of property, plant and equipment is derecognised upon disposal or when no future economic
benefits are expected from its use or disposal. Any gain or loss arising on disposal of an asset is
included in profit or loss when the asset is derecognised.
4.4 Intangible assets
Intangible assets are initially recognised at cost. Following initial recognition, intangible assets are
carried at cost less any accumulated amortisation and any accumulated impairment losses (if any).
144
Annual Registration Statement / Annual Report 2025
(Form 56-1 One Report)