NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 39 ACQUISITION OF AND LOSS OF CONTROL IN SUBSIDIARIES, AND CHANGES IN INTERESTS IN SUBSIDIARIES WITHOUT LOSS OF CONTROL (CONT’D) (II) Loss of control in subsidiary 2025 On 27 June 2025, the Group through its indirect wholly owned subsidiary, Grande Strategic Pte. Ltd., disposed of its 100% equity interest in CityInd Pte. Ltd. for a sale consideration (net of transaction costs) of $92.2 million. Effects of disposal The cash flow and net assets of subsidiary disposed of are provided below: Total $’000 Investment properties 3,966 Trade and other receivables 186 Cash and cash equivalents 510 Trade and other payables (818) Provision for taxation (83) Carrying amount of net assets disposed of 3,761 Total consideration, net of disposed costs 92,195 Carrying amount of net assets disposed of (3,761) Gain on disposal of subsidiary 88,434 Sale consideration, net of disposal costs 92,195 Less: Cash and cash equivalents of subsidiary disposed of (510) Net cash inflow on disposal of subsidiary 91,685 2024 On 14 October 2024, the Group disposed of its 100% equity interest in Cideco Pte. Ltd. for a sale consideration (net of transaction costs) of $99.1 million. Effects of disposal The cash flow and net assets of subsidiary disposed of were provided below: Total $’000 Investment properties 6,627 Trade and other receivables 160 Cash and cash equivalents 1,949 Trade and other payables (1,240) Provision for taxation (274) Carrying amount of net assets disposed of 7,222 Sale consideration, net of disposed costs 99,116 Carrying amount of net assets disposed of (7,222) Gain on disposal of subsidiary 91,894 Sale consideration, net of disposal costs 99,116 Less: Cash and cash equivalents of subsidiary disposed of (1,949) Net cash inflow on disposal of subsidiary 97,167 192 | CITY DEVELOPMENTS LIMITED
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