Asia-Pacific Strategic Investments Limited - Annual Report 2021

Notes to the Financial Statements For the financial year ended 30 June 2021

2

Summary of significant accounting policies (continued)

2.2 Revenue recognition (continued)

Hospitality services:

(a)

Hotel operation’s revenue

Revenue from hotel's accommodation is recognised over time during the period of stay for the hotel guests. Revenue from food and beverage sales and other ancillary services is generally recognised at a point in time when the food and beverage are served to the customers.

Real estate agency services:

(b)

Commission income

Revenue from real estate agency is recognised at a point in time in the period in which the services are rendered and the Group has transferred the control of the promised services to the customers.

(c)

Management services fee income

Management services fee income is recognised at a point in time when the Group has satisfied its PO by rendering the services to the customer.

Other revenue:

(d)

Interest income

Interest income including income arising from other financial instruments, is recognised using the effective interest method.

(e)

Dividend income

Dividend income is recognised when the right to receive payment is established, it is probable that the economic benefits associated with the dividend will flow to the Group, and the amount of the dividend can be reliably measured.

(f)

Rental income

Rental income from sublease of land for agriculture and aquaculture activities is accounted for based on a straight-line basis over the lease terms stipulated in the contracts.

ANNUAL REPORT 2021

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