Annual Report 2022

193 2022 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 3 Revenue The principal activities of the Group are the operation of both franchised and non-franchised public transportation and property holdings and development. The amount of each significant category of revenue is as follows: 2022 2021 $’000 $’000 Fare revenue from franchised public bus services 6,090,564 6,609,291 Revenue from non-franchised transport services 195,832 212,458 Licence fee income 214,868 256,968 Media sales revenue 49,652 71,597 Gross rentals from investment properties 56,255 51,694 6,607,171 7,202,008 All revenue, except gross rentals from investment properties which are subject to HKFRS 16, Leases , falls within the scope of HKFRS 15, Revenue from contracts with customers . The Group’s customer base is diversified and there was no customer with whom transactions have exceeded 10% of the Group’s revenues. Further details regarding the Group’s principal activities are disclosed in note 12 to the financial statements. 4 Other income 2022 2021 $’000 $’000 Interest income on financial assets measured at FVOCI (recycling) 57,806 54,483 Interest income on financial assets measured at amortised cost 23,144 6,683 Dividend income from equity investments 64,861 38,539 Net gain/(loss) on derecognition of financial assets measured at FVOCI (recycling) (note 9) 1,161 (3,163) Net foreign exchange gain 12,719 12,772 Expected credit loss on other financial assets (note 32(a)) (92,000) – 67,691 109,314 Claims received 10,954 24,963 Net miscellaneous business receipts 12,464 12,910 Net gain on disposal of other property, plant and equipment 5,453 9,233 Government subsidies (note) 525,566 5,394 Drawdown from toll exemption fund (note 5(d)) – 49,428 Sundry income 83,638 42,743 705,766 253,985 Note: This mainly represented subsidies from the Government of the Hong Kong Special Administrative Region (“HKSAR”) to relieve the operating pressure on corporates, including franchised and non-franchised bus operators as a result of the outbreak of the fifth wave of COVID-19.