172 CSE Global Limited 19. Revenue (cont’d) (b) Recognition of project revenue over time For the project revenue where the Group satisfies its performance obligations over time, management has determined that a cost-based input method provides a faithful depiction of the Group’s performance in transferring control to the customers, as it reflects the Group’s efforts incurred to date relative to the total inputs expected to be incurred for the projects. The measure of progress is based on the costs incurred to date as a proportion of total costs expected to be incurred up to the completion of the projects. The determination of total budgeted costs, progress towards completion, variation orders and claims and remaining costs to completion for each contract requires significant management judgement and estimation. Management relies on past experience and knowledge of the project engineers to make estimates of the amounts to be incurred. In making these estimates, management takes into consideration the historical trends of the amounts incurred in its other similar projects, analysed by different business segments for the past years. 20. Other non-operating income Group 2024 2023 $’000 $’000 Miscellaneous income 1,870 856 Foreign exchange (loss)/gain, net (2,072) 368 (Loss)/gain on disposal of property, plant and equipment (322) 70 Gain on disposal of asset held-for-sale 588 − Gain on liquidation of a subsidiary 266 − Other (expenses)/income (52) 24 278 1,318 21. Finance income Group 2024 2023 $’000 $’000 Interest income from: –Short-term deposits 613 359 –Held-to-maturity investment − 4 Unrealised fair value gain on financial instrument − 190 613 553 22. Finance costs Group 2024 2023 $’000 $’000 Interest expense on bank loans 7,813 9,867 Accretion of interest on lease liabilities 1,160 786 8,973 10,653 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024
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