Notes to the financial statements Year ended 31 December 2024 12. INTEREST-BEARING BORROWINGS (continued) Terms and debt repayment schedule (continued) The maturity analysis shows the contractual undiscounted cash flows of the Group’s financial liabilities on the basis of their earliest possible contractual maturity. In addition to the above, the interest payments on the Group’s sustainabilitylinked bond takes into consideration the Group’s expectation of its ability to meet the sustainability-linked performance targets, and may change if the Group expects that it can no longer meet this target. It is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts. Reconciliation of movements of liabilities to cash flows arising from financing activities Non-cash changes Adjusted balance at 1 January Financing cash flows Finance costs Fair value change Foreign exchange movement Derecognition of lease liabilities(2) Other changes At 31 December $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 2024 Interest-bearing borrowings(1) 1,960,126 (164,709) 65,368 – (407) – (1,037) 1,859,341 Interest rate swaps used for hedging and forward exchange contracts – assets (20,227) 698 – 11,708 – – – (7,821) Interest rate swaps, cross currency interest rate swaps used for hedging and forward exchange contracts– liabilities 5,349 – – 6,114 – – – 11,463 Lease liabilities 41 (48) 1 – 6 – – – 1,945,289 (164,059) 65,369 17,822 (401) – (1,037) 1,862,983 2023 Interest-bearing borrowings(1) 1,953,971 (53,009) 70,246 – (11,082) – – 1,960,126 Interest rate swaps used for hedging and forward exchange contracts – assets (44,364) 1,688 – 22,449 – – – (20,227) Interest rate swaps, cross currency interest rate swaps used for hedging and forward exchange contracts– liabilities 825 – – 4,524 – – – 5,349 Lease liabilities 5,135 (1,303) 148 – (214) (1,304) (2,421) 41 1,915,567 (52,624) 70,394 26,973 (11,296) (1,304) (2,421) 1,945,289 (1) Includes interest payable of $0.8 million as at 31 December 2024. (2023: $0.9 million) (2) Related to the lease in CapitaMall Qibao which the mall has ceased operations since March 2023. (Note 13) 13. LEASES Leases as lessee The Group leases land and building which form part of its investment properties and motor vehicles which form part of its property, plant and equipment. The leases of land and building and motor vehicle typically run for a period of 20 years and 3 years respectively, with an option to renew the lease after that date. Information about leases for which the Group is a lessee is presented below. 133 Annual Report 2024
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