management recognized revenue from construction under a concession arrangement in accordance with percentage of completion of the fair value of assets. The Group’s management also recognized cost of
concession arrangement in accordance with percentage of completion of the fair value of assets. The Group’s management also recognized cost of construction under a concession arrangement at actual cost
revenue from construction. As specified in the contract, the subsidiary shall transfer assets when the contract ends. The Group’s management assessed the agreement in accordance with TFRIC 12 ‘Service
Concession Arrangements’. As a result, the Group’s management recognized revenue from construction under a concession arrangement in accordance with percentage of completion of the fair value of assets. The
revenue from construction under a concession arrangement in accordance with percentage of completion of the fair value of assets. The Group’s management also recognized cost of construction under a
were part of a certain number of assets to be disposed, which received shareholders’ approval at the EGM held on 4 January 2018 MANAGEMENT DISCUSSION & ANALYSIS 2018 14 FEB 2019 U CITY PCL 2018 MD&A (for
Management Sub-committee Assets and Liabilities Management Sub-committee Market Risk Management Sub-committee Operational Risk Management Sub-committee Business Continuity Management Sub-committee Capital