NOTES TO THE FINANCIAL STATEMENTS 2. MATERIAL ACCOUNTING POLICY INFORMATION (CONTINUED) (b) Financial instruments (i) Financial assets Financial assets at amortised cost The financial assets are initially measured at fair value plus transaction costs except for trade receivables without significant financing component which are measured at transaction price only. Subsequent to the initial recognition, all financial assets are measured at amortised cost less any impairment losses. (ii) Financial liabilities Financial liabilities at amortised cost The financial liabilities are initially measured at fair value less transaction costs. Subsequent to the initial recognition, the financial liabilities are measured at amortised cost. (iii) Equity Ordinary shares Ordinary shares are recorded on initial recognition at the proceeds received less directly attributable transaction costs incurred. The ordinary shares are not remeasured subsequently. (c) Property, plant and equipment (i) Recognition and measurement Items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. (ii) Depreciation Depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment from the date that they are available for use. Freehold land is not depreciated. Capital work-in-progress are not depreciated until the assets are ready for their intended use. • Buildings and facility system 15 - 50 years • Office renovations 5 - 10 years • Plant and machinery 3 - 8 years • Equipment and motor vehicles 3 - 15 years • Office equipment, furniture and fittings 5 - 10 years • Computer equipment 3 - 10 years • Floating production, storage and offloading vessel (FPSO) 20 years • Technology assets 4 years Depreciation of oil and gas assets comprising subsea facilities and equipment is computed based on the unit-of-production method using proven and probable developed reserves. DNeX INTEGRATED REPORT 2025 148 ABOUT THIS REPORT LEADERSHIP VALUE CREATION @DNeX LEADERSHIP INSIGHTS OVERVIEW OF DAGANG NeXCHANGE BERHAD
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