195 Annual Report 2024 31 OPERATING SEGMENTS The Group organised its reporting structure into strategic divisions to more accurately reflect the way the Group manage its business. For the purpose of making resource allocation decisions and the assessment of segment performance, the Group’s Chief Operating Decision Maker (“CODM”) reviews internal/management reports of its strategic divisions. This forms the basis of identifying the operating segments of the Group consistent with the principles of FRS 108 Operating Segments. The Group’s reportable operating segments are as follows: • Retail: management of retail properties in Singapore • Office: management of office properties in Singapore, Germany and Australia • Integrated Developments: management of retail and office properties in Singapore and Australia Segment revenue comprises mainly income generated from its tenants. Segment net property income represents the income earned by each segment after allocating property operating expenses. This is the measure reported to the CODM for the purpose of assessment of segment performance. In addition, the CODM monitors the nonfinancial assets as well as financial assets attributable to each segment when assessing segment performance. Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated income and expenses mainly include interest and other income, investment income, management fees and finance costs. Unallocated assets and liabilities mainly comprise of the investment in joint ventures, equity investments and loans and borrowings. Segment capital expenditure is the total cost incurred during the year to acquire segment assets that are expected to be used for more than one year.
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