Notes to the financial statements Year ended 31 December 2024 11. TRADE AND OTHER PAYABLES Group Trust 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Trade payables 3,059 2,883 – 89 Accrued operating expenses 24,346 25,611 2,303 953 Accrued development expenditure 7,074 12,328 – – Amounts due to related parties (trade) 14,303 26,319 1,311 1,437 Amounts due to subsidiaries (non-trade) – – 152,753 148,292 Amounts due to related party – NCI (nontrade) 6,874 6,874 – – Other deposits and advances 43,716 44,935 – – Interest payable 8,145 9,042 6,443 7,879 Other payables 63 26,202 – – 107,580 154,194 162,810 158,650 Current 100,700 147,239 51,540 47,020 Non-current 6,880 6,955 111,270 111,630 107,580 154,194 162,810 158,650 Included in amounts due to related parties (trade) are amounts due to the Manager and Property Managers of $1.3 million (2023: $1.4 million) and $12.3 million (2023: $23.7 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 $111.3 million (2023: $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 (2023: $6.9 million) is unsecured, interest free and repayable on demand. 12. INTEREST-BEARING BORROWINGS Group Trust Note 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Unsecured term loans (a) 1,291,197 1,450,000 1,291,197 1,450,000 Medium Term Notes (“MTN”) (b) 224,200 150,000 224,200 150,000 Free Trade Zone (“FTZ”) bonds (c) 111,270 111,630 – – Secured loans (d) 147,402 235,315 – – Unsecured loan (d) 82,919 – – – Money market loan facilities (a) – 9,500 – 9,500 Less: Unamortised transaction costs (5,792) (5,361) (5,210) (4,444) 1,851,196 1,951,084 1,510,187 1,605,056 Current 203,494 131,008 199,953 109,468 Non-current 1,647,702 1,820,076 1,310,234 1,495,588 1,851,196 1,951,084 1,510,187 1,605,056 129 Annual Report 2024
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