153 Annual Report 2024 13 CASH AND CASH EQUIVALENTS Group Trust 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Cash at bank and in hand 147,831 128,660 73,732 61,740 Fixed deposits with financial institutions 8,527 12,040 – – Cash and cash equivalents in the statement of cash flows 156,358 140,700 73,732 61,740 The weighted average effective interest rate relating to cash and cash equivalents at the reporting date for the Group and Trust are 2.75% (2023: 2.96%) and 2.86% (2023: 3.32%) per annum respectively. 14 TRADE AND OTHER PAYABLES Group Trust 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Current Trade payables and accrued operating expenses 251,765 213,966 89,632 73,518 Amounts due to related parties (trade) 44,635 43,982 17,185 14,964 Amounts due to subsidiaries (non-trade) – – 60,783 280,252 Deposits and advances 26,037 29,288 9,487 9,500 Distribution payable to NCI 2,612 4,130 – – Interest payable 49,915 51,354 38,986 38,090 374,964 342,720 216,073 416,324 Non-current Amount due to a subsidiary (non-trade) – – 182,439 182,439 Amounts due to NCI (non-trade) 34,589 34,603 – – Deferred income 33 41 – – 34,622 34,644 182,439 182,439 Included in the trade payables and accrued operating expenses of the Group and the Trust was an amount due to the Trustee of $840,000 (2023: $1,540,000) and $414,000 (2023: $754,000) respectively. The amounts due to related parties (trade) of the Group mainly relate to amounts due to the Manager of $28,739,000 (2023: $28,507,000) and CapitaLand Retail Management Pte Ltd and CapitaLand Commercial Management Pte. Ltd. of $7,777,000 (2023: $11,312,000). The amounts due to related parties (trade) of the Trust mainly relate to amounts due to the Manager of $12,650,000 (2023: $11,250,000) and CapitaLand Retail Management Pte Ltd of $3,204,000 (2023: $2,610,000). The non-trade amounts due to subsidiaries are unsecured. Included in current amounts due to subsidiaries (nontrade) is an amount of $60,653,000 (2023: $177,556,000) placed by the Group’s wholly-owned subsidiaries under a cash pooling arrangement where the bank balances are transferred to/from a bank account of the Trust on a daily basis. This amount bears interest at a rate of 0.9% per annum on the daily outstanding balance. The remaining current amounts due to wholly-owned subsidiaries (non-trade), $130,000 (2023: $135,000) is repayable on demand. The amount $102,561,000 in 2023 is interest-free and repayable within the next twelve months. The non-current amount due to a wholly-owned subsidiary of $182,439,000 (2023: $182,439,000) is interest-free and repayable from 2026 to 2027 (2023: 2026 to 2027). The non-trade amounts due to non-controlling interests are unsecured, bear fixed interest rates from 2.7% to 5.0% (2023: 2.7% to 5.0%) per annum and are not repayable within the next twelve months.
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