Annual Report 2025 177 Notes to the Financial Statements 31 December 2025 25. Commitments and Contingencies (a) The Group and the Trust lease out their investment properties under operating lease agreements. Non-cancellable operating lease rental receivables are as follows: Group Trust 2025 $’000 2024 $’000 2025 $’000 2024 $’000 Within 1 year 1,270,739 1,198,719 763,225 772,579 After 1 year but within 5 years 2,807,951 2,545,098 1,520,101 1,567,717 After 5 years 1,304,026 1,330,452 733,330 845,349 5,382,716 5,074,269 3,016,656 3,185,645 (b) As at 31 December 2025, the Group and Trust had $101.1 million and $98.3 million (2024 : $293.9 million and $91.2 million (Group and Trust)) of capital expenditure commitments that had been contracted for but not provided for in the financial statements, respectively. (c) The Trust has provided corporate guarantees amounting to $1,936.1 million (2024 : $2,242.8 million) to banks for loans obtained by its subsidiaries. 26. Significant Related Party Transactions For the purposes of these financial statements, parties are considered to be related to the Group if the Manager has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Manager and the party are subject to common significant influence. Related parties may be individuals or other entities. The Manager and the Property Manager are indirect wholly-owned subsidiaries of a significant Unitholder of the Trust. In the normal course of its business, the Group carried out transactions with related parties on terms agreed between the parties. During the financial year, in addition to those disclosed elsewhere in the financial statements, there were the following significant related party transactions: Group 2025 $’000 2024 $’000 Acquisition of properties 700,200 – Proceeds from the divestment of a property – (112,800) Investment in an associate company – 6,834 M anagement fees paid / payable to the manager, a subsidiary of the Manager and related parties of the Manager 87,888 86,197 Lease service fee paid / payable to: - the Manager 17,750 17,578 - the subsidiary of the Manager 2,439 2,508 Property service fees paid to the Property Manager 34,709 32,866 L ease rental, licence fee, security deposits, chilled water, electricity, car park income, other income from related companies (29,558) (73,106) Acquisition fees paid / payable to: - the Manager 14,163 – - the subsidiary of the Manager – 1,494 P roperty service fees, service charges, reimbursements and receipts on behalf to related parties of the Manager 15,658 15,714
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