Urban Renewal Authority 2018-19 Annual Report

144 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 5. Revenue and other income, net (a) Revenue (i) Disaggregation of revenue Disaggregation of revenue from contracts with customers by major products or service lines is as follows: 2019 2018 $’000 $’000 Revenue recognised outside the scope of HKFRS 15 – Upfront premium from property developers 2,833,400 12,582,531 – Share of property development surplus on joint development projects 444,877 1,128,160 Revenue from contracts with customers within the scope of HKFRS 15 – Sale of properties 144,363 157,217 3,422,640 13,867,908 (ii) Revenue expected to be recognised in the future arising from contracts with customers in existence at the reporting date At 31 March 2019, the cumulative aggregate amount of revenue expected to be recognised in the consolidated statement of comprehensive income in the future from pre-completion sales contracts entered into in relation to the Group’s properties under development for sale pending transfer of control amounted to $4,135,000 which will be recognised when the pre-sold properties are assigned to the customers. The Group will recognise the expected revenue in future on the basis that control over ownership of the property has been passed to the customer, which is expected to occur over the next 12 months. (b) Other income, net Other income, net recognised during the year represents: 2019 2018 $’000 $’000 Interest income 435,724 319,899 Rental income 100,213 92,953 Miscellaneous income 2,532 3,573 Net gain/(loss) on investments at fair value through profit or loss 1,778 (2,511) Property, plant and equipment written off (5,672) – Gain on disposal of property, plant and equipment – 40 Net foreign exchange gain 1,832 37,081 536,407 451,035