Sustainability and Governance Report
Notes to the FINANCIAL STATEMENTS
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2. Summary of significant accounting policies (cont'd)
2.24 Segment reporting
For management purposes, the Group is organised into operating segments based on their geographical locations which are independently managed by the respective
segment managers responsible for the performance of the respective segments under their charge. The segment managers report directly to the management of the
Company who regularly review the segment results in order to allocate resources to the segments and to assess the segment performance. Additional disclosures on each
of these segments are shown in Note 31, including the factors used to identify the reportable segments and the measurement basis of segment information.
2.25 Contingencies
A contingent liability is:
(a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future
events not wholly within the control of the Group; or
(b) A present obligation that arises from past events but is not recognised because:
(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii) The amount of the obligation cannot be measured with sufficient reliability.
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Group.
Contingent liabilities and assets are not recognised on the balance sheet of the Group, except for contingent liabilities assumed in a business combination that are present
obligations and which the fair values can be reliably determined.
2.26 Assets held for sale and discontinued operation
Assets and disposal groups classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell. Assets and disposal groups are
classified as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. Property, plant and equipment
once classified as held for sale are not depreciated.
A component of the Group is classified as a discontinued operation when the criteria to be classified as held-for-sale have been met or it has been disposed of and such a
component represents a separate major line of business or geographical area of operations or is part of a single co-ordinated plan to dispose of a separate major line of
business or geographical area of operations.
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