18 REVENUE (continued) Disaggregation of revenue from contracts with customers In the following table, revenue from contracts with customers is disaggregated by timing of revenue recognition. Group 2024 2023 Point in time Over time Total Point in time Over time Total $’000 $’000 $’000 $’000 $’000 $’000 Revenue from sale of development properties – – – 86,344 – 86,344 Revenue from hotel operations 1,094 – 1,094 2,406 – 2,406 Revenue from real estate management services 1,056 27,784 28,840 103 35,653 35,756 Revenue from healthcare services 1,288 – 1,288 – – – 3,438 27,784 31,222 88,853 35,653 124,506 19 OTHER INCOME Group 2024 2023 $’000 $’000 Change in fair value of investment properties 45,464 57,218 Gain on disposal of a subsidiary (note 24) – 28,541 Net gain on acquisition of a subsidiary – 4,001 Others 50,982 54,082 96,446 143,842 Included in Others is an amount of $50.0 million (2023: $45.0 million) relating to sales tax savings arising from a restructuring exercise undertaken by the Group. 20 NET FINANCE COSTS Group 2024 2023 $’000 $’000 Interest income on loans to associates and joint ventures 4,760 7,752 Interest income on bank deposits 2,766 2,708 Finance income 7,526 10,460 Interest expense on financial liabilities measured at amortised cost (216,170) (221,967) Less: Borrowing costs capitalised in: - investment properties 19,380 26,821 - development properties 13,674 13,477 Finance costs (183,116) (181,669) Net finance costs recognised in profit or loss 175,590 171,209 Notes to the Financial Statements Year ended 31 December 2024 210 PERENNIAL HOLDINGS PRIVATE LIMITED
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