NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C3 Intangible assets (continued) Recognition and measurement (continued) (ii) Other intangible assets (continued) Class of intangible assets Background Valuation method Useful lives Development expenditure Development expenditure on an individual project is recognised as an intangible asset when the Group can demonstrate the technical and commercial feasibility of development. The capitalised costs are directly attributable to activities preparing the asset for its intended use, and capitalised borrowing costs. In any other circumstances, development costs are recognised in profit or loss as incurred. (i) Initially recognised at cost (ii) Subsequently, post development, the expenditure is carried at cost less any accumulated amortisation and accumulated impairment losses PTF: 8 to 41 years Others: 1 to 10 years (iii) Subsequent expenditure Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated intangible assets, is recognised in profit or loss as incurred. Impairment review The Group tests intangible assets for impairment to ensure they are not carried at above their recoverable amounts annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. These tests are performed by assessing the recoverable amount of each individual asset or, if this is not possible, then the recoverable amount of the cash generating unit (CGU) to which the asset belongs. CGUs are the lowest levels at which assets are grouped and generate separately identifiable cash flows. The recoverable amount is the higher of an asset or a CGU’s fair value less costs to sell and value-in-use. The value-in-use calculations are based on discounted cash flows expected to arise from the asset. Reversal of impairment Intangible assets other than goodwill that suffered impairment are reviewed for possible reversal of the impairment at each reporting date. 173 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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