156 CapitaLand Ascendas REIT Notes to the Financial Statements 31 December 2025 6. Finance Lease Receivables Group and Trust 2025 2024 Carrying amount $’000 Face value $’000 Carrying amount $’000 Face value $’000 Group and Trust Finance lease receivables - Current 4,758 6,588 4,861 7,028 - Non-current 23,207 26,618 27,965 33,206 27,965 33,206 32,826 40,234 Finance lease receivables are receivable from the lessees as follows: 2025 2024 Gross receivables $’000 Unearned interest income $’000 Net receivables $’000 Gross receivables $’000 Unearned interest income $’000 Net receivables $’000 Group and Trust Within 1 year 6,588 1,830 4,758 7,028 2,167 4,861 After 1 year but within 5 years 26,618 3,411 23,207 27,237 5,052 22,185 After 5 years – – – 5,969 189 5,780 33,206 5,241 27,965 40,234 7,408 32,826 The Group has a credit policy in place to monitor lessees’ credit rating on an ongoing basis. The lessees would be required to provide a security deposit if the credit rating falls below the agreed terms. The Manager believes that no impairment allowance is necessary in respect of the finance lease receivables. 7. Leases As lessee The Group and Trust lease land which pertains to their investment properties as disclosed in Investment Properties Portfolio Statement. The leases typically run for periods ranging from 30-125 years, some with options to renew after the lease expiry dates. Some lease payments are subject to market review and certain leases provide for additional rent payments that are based on changes in local price indices. Information about leases for which the Group is a lessee is presented below: Group Trust 2025 $’000 2024 $’000 2025 $’000 2024 $’000 Right-of-use assets At the beginning of the financial year 629,861 646,322 600,874 617,834 Derecognition of right-of use assets due to divestments (56,789) (8,979) (56,789) (8,979) Remeasurement of right-of use assets 39,415 – 39,415 – Net change in fair value of the right-of-use assets (10,189) (8,369) (9,739) (7,981) Exchange differences 2,478 887 – – At the end of the financial year 604,776 629,861 573,761 600,874
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