Annual Report 2025 195 (b) In 2021, pursuant to the planned divestment of nine strata units in Somerset Grand Citra Jakarta (a serviced residence), the investment property pertaining to these nine units have been reclassified to assets held for sale. As at 31 December 2024, the Stapled Group owns a 100% interest in the six remaining strata units, which have a combined gross floor area of about 490 square metres. As at 31 December 2025, the five remaining strata units have been reclassified to investment properties as the divestment is expected to be delayed to after 2026. Fair value hierarchy On 31 December 2024, the Stapled Group’s assets and liabilities held for sale were valued as such: • Investment properties: based on independent valuation conducted by HVS using the discounted cash flow method. • Non-derivative financial liabilities: present value of future principal and interest cash flows. • Other assets and liabilities: held at carrying amount as they were assumed to approximate their fair value less estimated costs to sell because of their short period to maturity. The fair value measurement for assets held for sale for the Stapled Group have been categorised as level 3 fair values. 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 2025 $’000 2024 $’000 2025 $’000 2024 $’000 2025 $’000 2024 $’000 Balance at 1 January 67,251 211,599 – 95,628 67,251 307,227 Capital expenditure on assets held for sale – 16 – 334 – 350 Disposal of assets held for sale (64,680) (207,135) – (93,996) (64,680) (301,131) Transfer (to)/from investment properties (Note 4) (438) 61,873 – – (438) 61,873 Transfer from property, plant and equipment (Note 5) – 1,093 – – – 1,093 Transfer from other assets – 3,565 – – – 3,565 Translation difference (2,133) (3,760) – (1,966) (2,133) (5,726) Balance at 31 December – 67,251 – – – 67,251 14 Assets and Liabilities Held for Sale (continued)
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