NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 29 DEFERRED TAX LIABILITIES (CONT’D) At 1 January 2025 Recognised in profit or loss (note 33) Recognised in the statement of comprehensive income (note 33) Acquisition of a subsidiary (note 39) Translation differences on consolidation At 31 December 2025 $’000 $’000 $’000 $’000 $’000 $’000 Group Deferred tax liabilities Property, plant and equipment (including right-of-use assets) 339,250 13,383 – 4,154 (9,837) 346,950 Investment properties 46,466 (6,915) – – (914) 38,637 Development properties 17,378 (11,309) – – 634 6,703 Employee benefits 5,846 (114) 34 – (314) 5,452 Unremitted earnings 181,913 1,971 – – 3,623 187,507 Others 27,313 8,208 – – (4,973) 30,548 618,166 5,224 34 4,154 (11,781) 615,797 Deferred tax assets Tax losses (106,045) (29,030) – – 6,384 (128,691) Lease liabilities (123,712) 4,904 – – 1,206 (117,602) Trade and other payables (8,784) 1,723 – – 108 (6,953) (238,541) (22,403) – – 7,698 (253,246) Total 379,625 (17,179) 34 4,154 (4,083) 362,551 At 1 January 2024 Recognised in profit or loss At 31 December 2024 Recognised in profit or loss At 31 December 2025 $’000 $’000 $’000 $’000 $’000 Company Deferred tax liabilities Property, plant and equipment (including right-of-use assets) 2,537 (737) 1,800 (866) 934 Investment properties 380 (361) 19 (9) 10 Unremitted earnings 14,058 (10) 14,048 (10) 14,038 16,975 (1,108) 15,867 (885) 14,982 Deferred tax assets Tax losses (3,225) 1,822 (1,403) (1,821) (3,224) Development properties (2,809) – (2,809) – (2,809) Lease liabilities (4,529) 1,056 (3,473) 1,102 (2,371) Trade and other payables (36) – (36) (3) (39) Others (446) (69) (515) (924) (1,439) (11,045) 2,809 (8,236) (1,646) (9,882) Total 5,930 1,701 7,631 (2,531) 5,100 ANNUAL REPORT 2025 | 177
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