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Intangible assets are accounted for at acquisition cost. After initial recognition, intangible assets are accounted for at cost less accumulated amortization and any accumulated impairment losses. Intangible assets are amortised
on a straight-line basis over the best estimate of their useful lives. The amortisation period and the amortisation method are reviewed annually at each financial year-end. Concessions, industrial rights and similar rights
and values Amounts paid for concessions, industrial rights and similar rights and values are capitalised and then amortised on a straight-line basis over the expected periods of benefit. The expected useful
lives vary from 3 to 15 years. Goodwill The excess of the cost of an acquisition over the Company’s interest in the fair value of the net identifiable assets
and liabilities acquired as at the date of the exchange transaction is recorded as goodwill and recognised as an asset in the balance sheet. Goodwill is carried at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on
a straight-line basis over its useful life. The amortisation period is determined at the time of the acquisition based upon the particular circumstances and ranges from 7 to 15 years. The unamortised balances are reviewed
at each balance sheet date by assessing the probability of continuing future benefits. If there is an indication that goodwill may be impaired, the recoverable amount is determined for the cash-generating unit to which the goodwill belongs. If the carrying amount
is higher than the recoverable amount, an impairment loss is recognised. Goodwill and negative goodwill arising from business combinations before 1 January 1995 were written off against reserves.
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