NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B3 Profit from operations (continued) Recognition and measurement Government grants are recognised as a receivable at fair value when there is reasonable assurance that the grant will be received and the Group will comply with all the attached conditions. Government grants are recognised as income over the periods necessary to match them with the related costs which they are intended to compensate on a systematic basis. Grants relating to expenses are deducted in reporting the related expenses. Grants relating to depreciable assets are recognised in profit or loss over the estimated useful lives of the relevant assets. B4 Non-operating (expense)/income, net Group 2024 2023 $’000 $’000 Gain on disposal of subsidiaries 26 17,187 Loss on disposal of subsidiaries (85) (733) (59) 16,454 Recognition and measurement The assets and liabilities of the subsidiary, including any goodwill are derecognised when a change in the Group’s ownership interest in a subsidiary result in a loss of control over the subsidiary. Amounts previously recognised in other comprehensive income in respect of that entity are also reclassified to profit or loss or transferred directly to retained earnings if required by a specific standard. B5 Earnings per share Basic earnings per share The weighted average number of ordinary shares used in the calculation of earnings per share is arrived at as follows: Company 2024 2023 ’000 ’000 Number of shares Issued ordinary shares at beginning of the year 3,114,549 3,112,882 Effect of performance shares and restricted shares released 6,096 5,603 Effect of treasury shares held (3,853) (2,999) Weighted average number of ordinary shares issued during the year 3,116,792 3,115,486 149 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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