NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 24 BANK LOANS Group Company Note 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Bank loans repayable within 1 year – secured 470 983 – – – unsecured 1,184,044 1,015,209 1,136,557 772,883 21 1,184,514 1,016,192 1,136,557 772,883 The Group’s secured bank loans bore interest at 2.40% (2023: 3.20% to 6.63%) per annum as at 31 December 2024. The loans are secured by mortgages on the borrowing subsidiary’s property, plant and equipment (note 4) and a pledge on cash deposits (note 18). The Group’s unsecured bank loans bore interest at 3.73% to 6.00% (2023: 0.80% to 6.50%) per annum as at 31 December 2024. The Company’s unsecured bank loans bore interest at 4.73% to 5.76% (2023: 5.05% to 6.39%) per annum as at 31 December 2024. 25 EMPLOYEE BENEFITS Group Company 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Net defined benefit asset (4,877) – – – Net defined liability for: – defined benefit liability 3,912 2,077 – – – short-term accumulating compensated absences 29,094 30,226 2,546 2,579 – other long-term benefits 7,356 3,708 6,530 2,904 40,362 36,011 9,076 5,483 Non-current 6,628 4,716 2,670 2,591 Current 33,734 31,295 6,406 2,892 40,362 36,011 9,076 5,483 Group 2024 2023 $’000 $’000 Net defined benefit (asset)/liability Present value of unfunded obligations 3,352 2,766 Present value of funded obligations 79,959 88,137 Fair value of plan assets (84,276) (88,826) Net defined benefit (asset)/liability (965) 2,077 FINANCIALS CITY DEVELOPMENTS LIMITED 148
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