CapitaLand Integrated Commercial Trust - Annual Report 2021

Notes to the Financial Statements YEAR ENDED 31 DECEMBER 2021 32 ACQUISITION OF SUBSIDIARY (continued) Effects of acquisition The identifiable assets acquired, liabilities assumed and effect of cash flows are presented as follows: 2020 Group $’000 Plant and equipment 3,054 Investment properties 11,309,546 Investments in joint ventures 337,994 Loan to joint venture 158,851 Equity investment at fair value 30,265 Financial derivative assets 10,055 Deferred tax asset 10,412 Other non-current asset 44 Trade and other receivables 80,165 Cash and cash equivalents 74,722 Loans and borrowings (4,165,035) Financial derivative liabilities (15,502) Current tax payable (7,024) Trade and other payables (157,651) Security deposits (95,358) Deferred tax liability (5,390) Investment in RCS Trust previously equity accounted for as a joint venture (797,387) Net assets 6,771,761 Less: Non-controlling interest (30,682) Total identifiable net assets acquired 6,741,079 Gain relating to negative goodwill arising from the Merger (430,003) Total purchase consideration 6,311,076 Settlement by way of issuance of new shares (5,310,850) Cash of subsidiaries acquired (74,722) Net cash outflow on acquisition of subsidiary 925,504 Acquisition-related costs The Group incurred acquisition-related costs of $10.8 million, which mainly relates to the legal, due diligence, financial advisory service and other professional fees. These costs have been recognised in the Statement of Total Return and presented as ‘Transaction costs relating to the Merger’. CapitaLand Integrated Commercial Trust 314