An asset’s fair value less costs to sell reflects the price the Group
would obtain at its end of the reporting period from the asset’s
disposal in an orderly transaction between market participants
after deducting the costs of disposal. If there is no binding sales
agreement or active market for the asset, its fair value is assessed
by the use of appropriate valuation models dependent on the
nature of the asset, such as by the use of discounted cash fl ow
models. These calculations are corroborated by available fair
value indicators such as quoted market prices or sector-specific
valuation multiples.