Annual Report 2023

221 2023 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: 2023 2022 $’000 $’000 Fare revenue from franchised public bus services 7,266,043 6,090,564 Revenue from non-franchised transport services 238,717 195,832 Licence fee income 234,395 214,868 Media sales revenue 57,335 49,652 Gross rentals from investment properties 88,263 56,255 7,884,753 6,607,171 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 2023 2022 $’000 $’000 Dividend income from equity investments 91,454 64,861 Interest income on financial assets measured at FVOCI (recycling) 54,202 57,806 Interest income on financial assets measured at amortised cost 59,187 23,144 Net (loss)/gain on derecognition of investments in financial assets measured at FVOCI (recycling) (note 9) (7) 1,161 Net foreign exchange gain 1,748 12,719 Expected credit loss on other financial assets (note 33(a)) (260,000) (92,000) (53,416) 67,691 Claims received 15,493 10,954 Net miscellaneous business receipts 11,868 12,464 Net gain on disposal of other property, plant and equipment 3,606 5,453 Government subsidies (note) 7,748 525,566 Sundry income 82,807 83,638 68,106 705,766 Note: The amount in 2022 mainly represented subsidies from the HKSAR Government 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.