NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 39 ACQUISITION OF AND LOSS OF CONTROL IN SUBSIDIARIES, AND CHANGES IN INTERESTS IN SUBSIDIARIES WITHOUT LOSS OF CONTROL (CONT’D) (III) Changes in interests in subsidiaries without loss of control (cont’d) 2023 (a) On 12 May 2023, CDL Investments New Zealand Limited (CINZ), an indirect subsidiary of M&C, allotted new ordinary shares to its shareholders who had elected to receive their dividend in the form of new shares to CINZ’s dividend reinvestment plan. Following the issuance of the new shares, the Group’s deemed interest in the shares of CINZ decreased from 65.99% to 65.54%. (b) On 15 December 2023, CBM Pte. Ltd., an indirect wholly-owned subsidiary, acquired the remaining 2.1% of the issued share capital of Systematic Laundry & Healthcare Services Pte. Ltd. (SLHS) from an unrelated third party for a consideration of $168,000. Following the acquisition, SLHS became an indirect wholly-owned subsidiary of the Group. The following summarises the effect of changes in the Group’s ownership interests in the above subsidiaries: 2024 2023 $’000 $’000 Consideration paid for acquisition of non-controlling interests (73,913) (168) Net decrease/(increase) in equity attributable to non-controlling interests 106,926 (1,092) Net increase/(decrease) in equity interests attributable to owners of the Company 33,013 (1,260) Represented by: Increase/(Decrease) in capital reserve 33,013 (1,260) 40 RECONCILIATION OF MOVEMENTS OF LIABILITIES TO CASH FLOWS ARISING FROM FINANCING ACTIVITIES Liabilities Interestbearing borrowings (note 21) Interest payable^ Non-trade amounts owing to noncontrolling interests^ Non-trade amounts owing to fellow subsidiaries (note 17) Non-trade amounts owing to associates (note 8) Non-trade amounts owing to joint ventures (note 9) Lease liabilities (note 26) $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance at 1 January 2023 9,669,422 40,799 125,266 293,917 2,605 90,705 697,439 Financing cash flows 1,626,284 (422,351) – (175,849) (270) 758 (50,021) Non-cash changes Changes arising from acquisition/deconsolidation of subsidiaries 6,713 – – – – – – Effect of changes in foreign exchange rates (9,567) 70 (5,275) – 84 (2,798) (1,030) Liability-related New leases – – – – – – 13,763 Termination of leases – – – – – – (14,531) Interest expense/capitalised – 453,221 6,477 802 – 12 25,320 Others 7,451 (7,595) 10,671 – – – – Total other changes 4,597 445,696 11,873 802 84 (2,786) 23,522 Balance at 31 December 2023 11,300,303 64,144 137,139 118,870 2,419 88,677 670,940 ^ Included in “trade and other payables” FINANCIALS CITY DEVELOPMENTS LIMITED 172
RkJQdWJsaXNoZXIy ODIwNTc=