On 2 January 2019, the company obtained a permit for free from the Malaysian government that allows the company to import materials from overseas for an indefinite period. On that date, the fair value of the permit was RM1,000,000. No record was made to account for the permit. The company adopts a revaluation model to measure intangible assets. Refer to the information and, based on relevant accounting standards, discuss the choice of accounting policy for intangible assets. Also, explain the appropriate accounting treatment if the useful life of the permit is only ten years (assume the company policy to amortize the intangible assets using the straight-line method, and it is to be calculated on a yearly basis).