NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 11. TRADE AND OTHER PAYABLES Group Trust 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Trade payables 2,883 4,454 89 313 Accrued operating expenses 25,611 33,099 953 3,819 Accrued development expenditure 12,328 17,468 – – Amounts due to related parties (trade) 26,319 29,140 1,437 1,534 Amounts due to subsidiaries (non-trade) – – 148,292 29,139 Amounts due to related party – NCI (non-trade) 6,874 6,874 – – Other deposits and advances 44,935 37,233 – – Interest payable 9,042 8,031 7,879 7,704 Other payables 26,202 1,341 – 146 154,194 137,640 158,650 42,655 Current 147,239 130,671 47,020 42,655 Non-current 6,955 6,969 111,630 – 154,194 137,640 158,650 42,655 Included in amounts due to related parties (trade) are amounts due to the Manager and Property Managers of $1.4 million (2022: $1.5 million) and $23.7 million (2022: $26.7 million) respectively. The amounts due to subsidiaries (non-trade) at the Trust level included the interest-bearing loan to subsidiary CLCT MTN Pte. Ltd. amounting to $111.6 million which bears interest rate of 3.8% per annum, and is unsecured and repayable on 17 October 2026, with interest payable annually in arrear. The remaining amount is unsecured, interest free and repayable on demand. The amounts due to related party – NCI (non-trade) of $6.9 million (2022: $6.9 million) is unsecured, interest free and repayable on demand. 12. INTEREST-BEARING BORROWINGS Group Trust Note 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Unsecured term loans (a) 1,450,000 1,510,000 1,450,000 1,510,000 Medium Term Notes (“MTN”) (b) 150,000 150,000 150,000 150,000 Free Trade Zone (“FTZ”) bonds (c) 111,630 – – – Secured loan (d) 235,315 257,127 – – Money market loan facilities 9,500 33,800 9,500 33,800 Less: Unamortised transactions costs (5,361) (4,987) (4,444) (4,987) 1,951,084 1,945,940 1,605,056 1,688,813 Current 131,008 326,140 109,468 283,765 Non-current 1,820,076 1,619,800 1,495,588 1,405,048 1,951,084 1,945,940 1,605,056 1,688,813 192 CAPITALAND CHINA TRUST
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