Consolidated distribution statement Year ended 31 December 2024 Note A – Distribution adjustments Group 2024 2023 $’000 $’000 Distribution adjustment items: – Gain on disposal of subsidiary(1) (7,309) – – Withholding tax on gain from disposal of subsidiary(1) 12,115 – – Gain on derecognition of lease liabilities(2) – (1,574) – Straight line rental and leasing commission adjustments(3) 859 3,343 – Manager’s management fees payable in Units 13,880 14,931 – Change in fair value of investment properties(3) 87,162 33,885 – Change in fair value of financial derivatives 403 1,067 – Deferred taxation(3) 14,954 29,105 – Transfer to general reserve(3) (7,767) (7,834) – Unrealised foreign exchange loss(3) 194 133 – Net gain arising on modification of financial instruments measured at amortised cost that were not derecognised (303) – – Other adjustments(3) 681 2,713 Net effect of distribution adjustments 114,869 75,769 (1) The gain and withholding tax relate to the divestment of CapitaMall Shuangjing. The divestment of CapitaMall Shuangjing was announced on 6 December 2023 and completed on 23 January 2024. A fair value uplift in investment property in relation to CapitaMall Shuangjing was recognised in the year ended 31 December 2023. (2) This relates to CapitaMall Qibao as the mall ceased operations in March 2023. (3) Excludes non-controlling interest’s share. The accompanying notes form an integral part of these financial statements. 91 Annual Report 2024
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