NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 17 AMOUNTS OWING BY AND TO FELLOW SUBSIDIARIES Group Company Note 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Amounts owing by fellow subsidiaries: – trade 7 132 – – – non-trade, interest free 1,000 – – – 16 1,007 132 – – Amounts owing to fellow subsidiaries: – trade 9 4 – – – non-trade, interest-free 2,356 104,056 – – – non-trade, interest-bearing 13,769 14,814 – – 30 16,134 118,874 – – The non-trade amounts owing to fellow subsidiaries are unsecured and repayable on demand. In respect of interest-bearing amounts owing to fellow subsidiaries, interest was charged at 2.00% (2023: 2.00%) per annum. 18 CASH AND CASH EQUIVALENTS Group Company Note 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Fixed deposits 1,764,738 1,101,238 366,157 396,235 Cash at banks and in hand 1,236,646 1,299,193 178,628 137,566 Cash and cash equivalents in the statements of financial position 3,001,384 2,400,431 544,785 533,801 Restricted deposits included in other non-current assets 12 84,162 110,802 19 3,085,546 2,511,233 Restricted cash (138,556) (141,405) Bank overdrafts 21 (277,338) (325,630) Cash and cash equivalents in the consolidated statement of cash flows 2,669,652 2,044,198 As at 31 December 2024, cash and cash equivalents of $349,592,000 (2023: $116,470,000) of the Group were held under project accounts and withdrawals from these project accounts are restricted to payments for expenditure incurred on the Group’s development projects. Cash at banks and fixed deposits for the Group and Company bore interest at 0.05% to 5.91% (2023: 0.05% to 6.05%) and 2.26% to 3.27% (2023: 3.00% to 4.17%) per annum respectively, as at 31 December 2024. Group Note 2024 2023 $’000 $’000 Restricted cash: – Current 54,394 30,603 – Non-current 12 84,162 110,802 138,556 141,405 As at 31 December 2024 and 31 December 2023, restricted cash comprise mainly deposits pledged to financial institutions as collateral for credit facilities granted (see note 22). FINANCIALS CITY DEVELOPMENTS LIMITED 142
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