Notes to the Financial Statements Year ended 31 December 2024 14 ASSETS AND LIABILITIES HELD FOR SALE (continued) Reconciliation of Level 3 fair value The following table presents the reconciliation of the assets held for sale from the beginning balances to the ending balances for Level 3 fair values. CapitaLand Ascott REIT Group CapitaLand Ascott BT Group Stapled Group 2024 2023 2024 2023 2024 2023 $’000 $’000 $’000 $’000 $’000 $’000 Balance at 1 January 211,599 1,020 95,628 – 307,227 1,020 Capital expenditure on assets held for sale 16 – 334 – 350 – Disposal of assets held for sale (207,135) (40,059) (93,996) – (301,131) (40,059) Transfer from investment properties (Note 4) 61,873 250,507 – – 61,873 250,507 Transfer from property, plant and equipment (Note 5) 1,093 375 – 95,628 1,093 96,003 Transfer from other assets 3,565 – – – 3,565 – Net change in fair value recognised in Statement of Total Return – (13) – – – (13) Translation difference (3,760) (231) (1,966) – (5,726) (231) Balance at 31 December 67,251 211,599 – 95,628 67,251 307,227 15 CASH AND CASH EQUIVALENTS CapitaLand Ascott REIT Group CapitaLand Ascott BT Group Stapled Group Note 2024 2023 2024 2023 2024 2023 $’000 $’000 $’000 $’000 $’000 $’000 Cash at bank and in hand 354,238 321,844 111,612 60,318 465,850 382,162 Fixed deposits with financial institutions 175,325 47,527 2,880 3,117 178,205 50,644 Cash and cash equivalents 529,563 369,371 114,492 63,435 644,055 432,806 Restricted cash (a) (2,718) (6,473) (2,883) (3,120) (5,601) (9,593) Cash and cash equivalents in the Statements of Cash Flows 526,845 362,898 111,609 60,315 638,454 423,213 As at 31 December 2024, the interest rates per annum for cash and cash equivalent of the CapitaLand Ascott REIT Group, the CapitaLand Ascott BT Group and the Stapled Group ranged from 0% to 5.10% (2023: 0% to 6.00%), 0% to 3.60% (2023: 0% to 3.42%) and 0% to 5.10% (2023: 0% to 6.00%) respectively. (a) The restricted cash comprise: • bank balances of certain subsidiaries pledged as collateral for certain borrowings of $2,718,000 (2023: $6,473,000) and $3,000 (2023: $3,000) for the CapitaLand Ascott REIT Group and the CapitaLand Ascott BT Group respectively; and • security deposit of $2,880,000 (2023: $3,117,000) from a tenant which can only be drawn down as rental payment upon tenant’s default or refunded to tenant upon lease expiry. 200 CapitaLand Ascott Trust
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