NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 40 RECONCILIATION OF MOVEMENTS OF LIABILITIES TO CASH FLOWS ARISING FROM FINANCING ACTIVITIES (CONT’D) Liabilities Interestbearing borrowings (note 21) Interest payable^ Non-trade amounts owing to noncontrolling interests^ Non-trade amounts owing to fellow subsidiaries (note 17) Non-trade amounts owing to associates (note 8) Non-trade amounts owing to joint ventures (note 9) Lease liabilities (note 26) $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance at 1 January 2024 11,300,303 64,144 137,139 118,870 2,419 88,677 670,940 Financing cash flows 1,703,315 (562,030) 5,166 (103,020) (268) 488 (51,682) Non-cash changes Effect of changes in foreign exchange rates 21,835 (79) 1,105 – 32 321 (1,246) Liability-related New leases – – – – – – 20,595 Interest expense/capitalised – 561,294 2,349 275 – 5 24,811 Settlement through transfer of certain office units in Hong Leong Technology Park – – (124,623) – – – – Others 10,358 (897) (4,812) – – 7 – Total other changes 32,193 560,318 (125,981) 275 32 333 44,160 Balance at 31 December 2024 13,035,811 62,432 16,324 16,125 2,183 89,498 663,418 ^ Included in “trade and other payables” 41 FINANCIAL INSTRUMENTS Financial risk management Overview The Group has exposure to the following risks arising from financial instruments: • credit risk • liquidity risk • market risk This note presents information about the Group’s exposure to each of the above risks, the Group’s objectives, policies and processes for measuring and managing risk. Risk management framework The Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk management framework. Management is responsible for developing and monitoring the Group’s risk management policies. Management reports regularly to the Board of Directors on its activities. The Group’s risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. The Group has a system of controls in place to maintain an acceptable balance between the cost of risks occurring and the cost of managing the risks. Management continually monitors the Group’s risk management process to ensure that an appropriate balance between risk and control is achieved. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities. ANNUAL REPORT 2024 FINANCIALS 173
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