CapitaLand Ascott Trust 194 Notes to the Financial Statements For the financial year ended 31 December 2025 14 Assets and Liabilities Held for Sale Note CapitaLand Ascott REIT Group CapitaLand Ascott BT Group Stapled Group 2025 $’000 2024 $’000 2025 $’000 2024 $’000 2025 $’000 2024 $’000 Somerset Olympic Tower Tianjin - Investment property – 51,316 – – – 51,316 - Right-of-use assets – 10,557 – – – 10,557 - Property, plant and equipment – 1,093 – – – 1,093 - Trade and other receivables – 471 – – – 471 - Cash and cash equivalents – 3,094 – – – 3,094 (a) – 66,531 – – – 66,531 Somerset Grand Citra Jakarta - Investment property (b) – 720 – – – 720 Assets held for sale – 67,251 – – – 67,251 Somerset Olympic Tower Tianjin - Trade and other payables – 2,101 – – – 2,101 - Financial liabilities – 11,297 – – – 11,297 - Lease liabilities – 10,557 – – – 10,557 Liabilities held for sale – 23,955 – – – 23,955 (a) On 22 October 2024, the CapitaLand Ascott REIT Group entered into a sale and purchase agreement with Tianjin Yuchuang Consulting Co. Ltd, an unrelated third party, to divest its wholly-owned subsidiary, Tianjin Consco Property Development Co., Ltd at an agreed property value of RMB420 million. The Stapled Group owns a 100% interest in Somerset Olympic Tower Tianjin, which has a gross floor area of about 32,900 square metres. The consideration is approximately 50% above the property’s carrying value as at 31 December 2023 which was appraised based on the discounted cash flow method. The divestment was anticipated to be completed within 12 months and accordingly, all assets and liabilities held by Tianjin Consco Property Development Co., Ltd were reclassified to assets held for sale and liabilities held for sale respectively. As at 31 December 2024, Somerset Olympic Tower Tianjin, with an aggregate carrying value of $51,316,000, was pledged as security for banking facilities granted to Tianjin Consco Property Development Co., Ltd. Divestment of Tianjin Consco Property Development Co., Ltd was completed on 15 April 2025.
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