CONTRACT LIABILITIES

12 Months Ended

Dec. 31, 2021

Contract liabilities [abstract]

CONTRACT LIABILITIES

22 CONTRACT LIABILITIES

Advances received are classified as contract liabilities in accordance with IFRS 15 Revenue from Contracts with Customers. These arise when the customers’ make payments in advance and the amounts received exceeds the revenue recognised at the end of the reporting period and it shall be recognised as revenue in the subsequent year.

There were no significant changes in the contract liabilities balances during the reporting period.