Annual Report 2025 165 Notes to the Financial Statements 31 December 2025 The ageing of trade receivables at the reporting date was: Group 2025 2024 Gross $’000 Expected credit losses $’000 Gross $’000 Expected credit losses $’000 Current 24,043 – 22,168 – Past due 1 – 90 days 2,705 (1,203) 8,569 (472) Past due over 90 days 6,180 (2,787) 953 (917) 32,928 (3,990) 31,690 (1,389) Trust Current 1,018 – 1,236 (122) Past due 1 – 90 days 693 (183) 127 (100) Past due over 90 days 624 (467) 619 (609) 2,335 (650) 1,982 (831) Expected credit losses The movements in allowance for expected credit losses of trade receivables are as follows: Group Trust 2025 $’000 2024 $’000 2025 $’000 2024 $’000 At the beginning of the financial year 1,389 3,344 831 621 Provision / (reversal) of expected credit losses 2,705 860 (148) 464 R eclassification to provision of expected credit losses for other receivables – (1,706) – – B ad debt written off from provision previously made (104) (1,109) (33) (254) At the end of the financial year 3,990 1,389 650 831 The movements in allowance for expected credit losses of other receivables are as follows: Group Trust 2025 $’000 2024 $’000 2025 $’000 2024 $’000 At the beginning of the financial year 1,706 – – – R eclassification to provision of expected credit losses for other receivables – 1,706 – – Exchange differences (37) – – – At the end of the financial year 1,669 1,706 – – The Manager believes that no provision of impairment losses is necessary in respect of the remaining trade and other receivables as majority of the balances are either not past due or collected subsequent to year end. The rest of these amounts mainly arise from tenants who have good payment records and / or have placed sufficient security with the Group in the form of bankers’ guarantees, insurance bonds or cash security deposits. 10. Trade and Other Receivables (continued)
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