Notes to the Financial Statements For the financial year ended 31 December 2024 9 TRADE AND OTHER PAYABLES 2024 2023 $ $ Amount due to immediate holding company: – trade – 200 – non-trade 11,000 11,000 Amount due to related corporations: – trade 1,580,912 1,594,257 – interest payable 21,426 21,418 Accrued operating expenses 4,240 4,430 GST payables 52,294 – 1,669,872 1,631,305 The amounts due to immediate holding company and related corporations are unsecured, interest-free and repayable on demand. 10 LOAN FROM A RELATED CORPORATION The loan from a related corporation is unsecured and bears interest rate of 4.138% (2023: 3.952%) per annum at the reporting date and is repayable on demand. Interest is repriced quarterly. The reconciliation of liabilities arising from financing activities: Non-cash changes Note At 1 January Financing cashflows Interest expense At 31 December $ $ $ $ 2024 Loan from a related corporation 7,065,090 (65,090) – 7,000,000 Amount due to related corporation – interest payable 9 21,418 (284,110) 284,118 21,426 2023 Loan from a related corporation – 7,065,090 – 7,065,090 Amount due to related corporation – interest payable 9 – (65,090) 86,508 21,418 11 REVENUE 2024 2023 $ $ Management fee income 3,484,158 2,681,516 Acquisition and divestment fee income 481,617 1,022,980 Trustee fee income 164,796 162,000 4,130,571 3,866,496 Management fee income, acquisition and divestment fee income, and trustee fee income are derived from a related corporation. 299 Annual Report 2024
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