Gravity Services Ltd (GS) is a company set up in Hong Kong providing the region with cloud computing services like servers, storage, networking and software, to help customers to meet their business challenges. During the year ended 30 September 2020, it enters into two contracts. (i) Data Tab Ltd (DT) enters into a contract with GS for the use of an identified server for three years. GS delivers and installs the server at DT’s premises in accordance with DT’s instructions, and provides repair and maintenance services for the server, as needed, throughout the period of use. GS substitutes the server only in the case of malfunction. DT can decide which data to be stored and how to integrate the server to its operation. DT can change its decisions on how to operate the servers throughout the period of use (a) advise GS whether the contract (i) falls within HKFRS 16 as a lease
Gravity Services Ltd (GS) is a company set up in Hong Kong providing the region with cloud computing
services like servers, storage, networking and software, to help customers to meet their business challenges. During the year ended 30 September 2020, it enters into two contracts.
(i) Data Tab Ltd (DT) enters into a contract with GS for the use of an identified server for three years.
GS delivers and installs the server at DT’s premises in accordance with DT’s instructions, and provides repair and maintenance services for the server, as needed, throughout the period of use. GS
substitutes the server only in the case of malfunction. DT can decide which data to be stored and how
to integrate the server to its operation. DT can change its decisions on how to operate the servers
throughout the period of use
(a) advise GS whether the contract (i) falls within HKFRS 16 as a lease.
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