ESR IR 2021 - EN

56 STEP FORWARD Notes to Condensed Consolidated Financial Information 30 June 2021 4. REVENUE, OTHER INCOME AND GAINS, NET (a) Revenue An analysis of revenue is as follows: For the six months ended 30 June 2021 2020 (Unaudited) (Unaudited) US$’000 US$’000 Rental from investment property operating leases (note (i)) 50,648 55,915 Management fee 123,872 83,578 Construction 26,741 55,224 Solar energy 3,138 2,924 Total 204,399 197,641 Timing of revenue recognition For the six months ended 30 June 2021 2020 (Unaudited) (Unaudited) US$’000 US$’000 Rental from investment property operating leases 50,648 55,915 Point in time Management fee 38,368 18,400 Over time Management fee 85,504 65,178 Construction 26,741 55,224 Solar energy 3,138 2,924 204,399 197,641 Note: (i) Rental from investment property operating leases does not include variable lease payments that do not depend on an index or a rate.