NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 30 TRADE AND OTHER PAYABLES Group Company Note 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Trade payables 226,291 222,429 860 1,802 Accruals 560,071 528,995 82,135 77,668 Deferred consideration for land acquired 38,497 – – – Deferred income 41,366 67,848 – – Other payables 74,112 88,732 1,395 1,359 Rental and other deposits 76,426 59,513 764 2,052 Retention sums payable 10,291 15,782 – – Amounts owing to: – subsidiaries 7 – – 1,943,049 943,016 – associates 8 6,138 6,963 71 – – joint ventures 9 88,527 89,513 22,727 22,727 – fellow subsidiaries 17 12,535 16,134 6 – – non-controlling interests 17,466 16,324 – – 1,151,720 1,112,233 2,051,007 1,048,624 The non-trade amounts owing to non-controlling interests are unsecured and due within one year. 31 REVENUE Revenue of the Group includes property development income, income from owning and operating hotels, rental income, dividend income and others but excludes intra-group transactions. Property development income consists mainly of sale proceeds of commercial and residential properties. Others include mainly management and consultancy fees, and income from the provision of laundry services. Group 2025 2024 $’000 $’000 Revenue from contracts with customers 3,069,105 2,766,233 Rental income from investment properties 512,897 499,645 Dividends from investments: – fellow subsidiaries – quoted equity investments – at FVOCI 1,387 1,387 – unquoted equity investments – at FVOCI 3,071 2,869 – others – quoted equity investments – mandatorily at FVTPL 274 349 – unquoted equity investments – at FVOCI 358 714 3,587,092 3,271,197 As at 31 December 2025, the Group has property development income of $533,475,000 (2024: $959,734,000) which is expected to be recognised over the next four years (2024: five years) as construction of the development properties progresses. The Group has applied the practical expedient in paragraph 121 of SFRS(I) 15 and does not disclose information about its remaining performance obligations if: • the performance obligation is part of a contract that has an original expected duration of one year or less; or • the Group has a right to invoice a customer in an amount that corresponds directly with its performance to date, and it recognises revenue in that amount. ANNUAL REPORT 2025 | 179
RkJQdWJsaXNoZXIy ODIwNTc=