197 Annual Report 2024 31 OPERATING SEGMENTS (continued) Retail Office Integrated Developments Group $’000 $’000 $’000 $’000 2023 Gross revenue 570,531 521,889 467,514 1,559,934 Segment net property income 396,303 390,988 328,616 1,115,907 Interest and other income 45,752 Investment income 12,760 Finance costs (322,075) Management fees (91,166) Other unallocated expenses (10,989) Share of results (net of tax) of – joint ventures 15,579 Net income 765,768 Net change in fair value of investment properties 140,251 (159,128) 132,438 113,561 Total return for the year before tax 879,329 Taxation (10,111) Total return for the year 869,218 Assets and liabilities Segment assets 7,432,271 10,176,496 6,544,757 24,153,524 Unallocated assets: – Joint ventures 348,581 – Equity investments at fair value 150,559 – Financial derivatives 15,969 – Others 70,493 585,602 Total assets 24,739,126 Segment liabilities 215,933 295,022 157,109 668,064 Unallocated liabilities – Loans and borrowings 9,477,730 – Financial derivatives 137,095 – Others 54,517 9,669,342 Total liabilities 10,337,406 Other segmental information Depreciation and amortisation 232 287 193 712 Plant and equipment – capital expenditure 275 72 106 453 Investment properties – capital expenditure 67,235 40,121 9,934 117,290 (Write back)/allowance of doubtful debts (39) (28) 5 (62) Doubtful debts (recovered)/written off (1) 5 34 38
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