Notes to the Financial Statements Year ended 31 December 2024 16 FINANCIAL LIABILITIES (continued) Reconciliation of movements of liabilities to cash flows arising from financing activities Bank loans and notes Interest payable (1) (Note 17) Lease liabilities (Note 19) Total CapitaLand Ascott REIT Group $’000 $’000 $’000 $’000 Balance as at 1 January 2023 2,615,717 7,964 267,014 2,890,695 Changes from financing cash flows Proceeds from borrowings and issuance of notes 704,147 – – 704,147 Repayment of borrowings and notes (499,073) – – (499,073) Payment of transaction costs on borrowings and notes (2,966) – – (2,966) Payment of lease liabilities – – (9,000) (9,000) Interest paid – (64,131) (9,716) (73,847) Total changes from financing cash flows 202,108 (64,131) (18,716) 119,261 Other changes Finance costs 3,291 67,788 9,716 80,795 Effect of changes in foreign exchange rates (73,219) (57) (4,395) (77,671) Modification of lease liability – – 7,635 7,635 Acquisition of investment properties (Note 37) 167,081 – 2,711 169,792 Balance as at 31 December 2023 2,914,978 11,564 263,965 3,190,507 Balance as at 1 January 2024 2,914,978 11,564 263,965 3,190,507 Changes from financing cash flows Proceeds from borrowings and issuance of notes 1,263,992 – – 1,263,992 Repayment of borrowings and notes (1,171,195) – – (1,171,195) Payment of transaction costs on borrowings and notes (5,683) – – (5,683) Payment of lease liabilities – – (10,025) (10,025) Interest paid – (86,716) (9,603) (96,319) Total changes from financing cash flows 87,114 (86,716) (19,628) (19,230) Other changes Finance costs 4,789 85,652 9,603 100,044 Effect of changes in foreign exchange rates (63,867) 3 (2,837) (66,701) Transfer to liabilities held for sale (11,297) – (10,557) (21,854) Acquisition of investment properties (Note 37) 112,993 – – 112,993 Balance as at 31 December 2024 3,044,710 10,503 240,546 3,295,759 (1) Net of interest receivables of $7,463,000 (2023: $7,522,000) from cross currency interest rate swaps. 207 Annual Report 2024
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