FINANCIAL REVIEW DEBT BY CURRENCY PROFILE As at 31 December 2023 As at 31 December 2022 i Net of unamortised transaction costs and before taking into account the cross currency interest rate swaps to manage the exposure to foreign currency risk. 2022 Currency S$’million % n USD 862.0 30 n JPY 778.1 27 n SGD 720.3 25 n AUD 221.7 8 n EUR 206.1 7 n GBP 35.1 1 n KRW 33.2 1 n RMB 17.5 1 n VND 0.6 - Total 2,874.6i 100 2023 Currency S$’million % n SGD 855.6 28 n USD 792.4 26 n JPY 716.3 23 n EUR 329.3 11 n GBP 305.6 10 n KRW 33.3 1 n RMB 15.9 1 Total 3,048.4i 100 On a portfolio basis, approximately 52% of CLAS’ assets denominated in foreign currency were hedged. CASH FLOWS AND LIQUIDITY CLAS takes a proactive role in monitoring its cash flow position and requirements to ensure that there is sufficient liquidity and adequate funding for distribution to Stapled Securityholders as well as to meet any short-term obligations. As at 31 December 2023, CLAS’ cash and cash equivalents was S$432.8 million, an increase of S$69.2 million over last year. Net cash generated from operating activities for FY 2023 was S$300.7 million, an increase of S$18.3 million as compared to FY 2022. In FY 2023, net cash used in investing activities was S$296.7 million mainly due to acquisitions during the year, capital expenditure on investment properties and investment properties under development and purchase of property, plant and equipment, partially offset by proceeds from disposal of assets held for sale. Net cash generated from financing activities was S$64.5 million mainly due to proceeds from the 2023 Equity Fund Raising and net draw down of borrowings, partially offset by interest payments and distribution payment to Stapled Securityholders and perpetual securities holders. 68 CAPITALAND ASCOTT TRUST
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