Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HKAS 24.18-20
(b)
Financing arrangements 288
HKAS 24.17
290
Amounts due to ultimate holding
HK Listco Ltd
Financial statements for the year ended 31 December 2023
Amounts owed to
the group by
related parties
Amounts owed
by the group to
related parties
Related interest
(expense)/
income
Year ended 31
As at 31 December
As at 31
December
December
Notes
2023
2022
2023
2022
2023
2022
$'000
$'000
$'000
$'000
$'000
$'000
company
2,000
1,800
Amounts due to fellow subsidiaries
Loans from fellow subsidiaries
(i)
(ii)
3,650
3,780
2,665
906
(262)
(89)
Loans to associates
(iii), (iv)
31,601
21,596
Loans to members of key management
personnel and entities controlled by
members of key management
personnel
Lease liabilities due to fellow subsidiary
(iv), (v)
(vi)
400
546
29
32
1,168
2,268
(100)
(165)
Notes:
(i)
(ii)
(iii)
The outstanding balances with these related parties are trading balances included in "Trade and other payables" (note 24).
The loans from fellow subsidiaries bear interest at a prime rate plus [●] % per annum, are unsecured and repayable on 31
December 2028. The loans are included in "Non-current interest-bearing borrowings" (note 25).
The loans to the associates bear interest at HIBOR plus []% per annum and will both mature in 2030. The loans are fully
secured by properties held by the associates. The loans are included in "Equity and debt investments" (note 17).
(iv)
No loss allowances have been made in respect of these loans.
(v)
Further details of the loans and guarantees given on behalf of directors of the company are disclosed in note 23.
(vi)
The outstanding balances arising from the leasing arrangement with the fellow subsidiary are included in "Lease liabilities"
(note 27). Further details of the lease arrangement is set out in note (c) below.
Details of new loans and loans repaid during the period are disclosed in the consolidated cash flow statement.
HKAS 24 requires disclosure of key management personnel compensation in total and for each of (i) short-term employee benefits;
(ii) post-employment benefits; (iii) other long-term benefits; (iv) termination benefits; and (v) share-based payments. HKAS 24
defines key management personnel as being those persons having authority and responsibility for planning, directing and controlling
the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity.
For some entities all members of key management personnel will also be directors of that entity and therefore these requirements
of HKAS 24 will usually be met by giving more details in respect of the amounts to be disclosed under section 383(1) of the CO (see
note 7).
However, where consolidated financial statements are prepared, the reporting entity is the group and therefore the disclosure of
key management personnel compensation may need to be extended to include amounts payable to individuals who are not
directors of the holding company but nevertheless should be regarded as part of the key management of the group, for example
executive directors of major subsidiaries. These persons may, or may not, also be included in the disclosure of "highest paid
employees" required by paragraph A16(25) of the Listing Rules (see note 8) depending on the nature of their duties and the amount
of their compensation package.
191
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