137 Annual Report 2024 2. Summary of significant accounting policies (cont’d) 2.26 Government grants Government grants are recognised when there is reasonable assurance that the grant will be received or forgivable loan provided by the government will be waived and all attaching conditions will be complied with. Where the grant relates to an expense item, it is deducted on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. Where the grant relates to an asset, the fair value is recognised as deferred capital grant on the balance sheet and is amortised to profit or loss over the expected useful life of the relevant asset by equal annual instalments. 3. Group companies Details of subsidiaries of the Company at 31 December are: Name of Company (Country of incorporation) Principal activities (Place of business) Cost Effective equity interest held by the Group 2024 2023 2024 2023 $’000 $’000 % % i CSE Global (Asia) Pte Ltd (Singapore) E-business integration, research and development and investment holding (Singapore) 27,264 27,264 100 100 i CSE Global (Americas) Pte Ltd (Singapore) Investment holding (Singapore) 100,306 100,306 100 100 ii CSE Systems & Engineering (India) Private Limited (1) (India) Sales and provision of computer network systems (India) 36 36 100 100 ii CSE-Hankin (China) Co., Ltd (2) (China) Design and install high temperature thermal process and incineration systems (China) 2,524 2,524 100 100 i CSE Communications & Security Pte Ltd (Singapore) Provision of turnkey telecommunications solutions and security systems (Singapore) 75,302 75,302 100 100 ii CSE-Global (Australia) Pty Ltd (9) (Australia) Distribution of electrical engineering equipment and provision of telecommunications solutions and investment holding (Australia) 55,882 55,882 100 100 i CSE-Crosscom (International) Pte Ltd ^ (Singapore) Investment holding (Singapore) 28,465 –“ 100 100 i CSE Technologies Pte Ltd (Singapore) Investment holding (Singapore) 21,262 21,262 100 100 i Grid Communications Pte Ltd (Singapore) System integration solutions and sales and provision of computer network systems (Singapore) 2,860 2,860 100 100 313,901 285,436 “ Denotes amounts less than $1,000 The carrying amount of the Company’s investment in subsidiaries at the balance sheet date is disclosed in Note 5 to the financial statements. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024
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