ESR Group Limited Annual Report 2022 Notes to the Consolidated Financial Statements 31 December 2022 211 36. DISPOSAL OF SUBSIDIARIES (continued) The Group also disposed the following subsidiaries during the year: Name of subsidiaries disposed Equity interest disposed Month of disposal ECN IV Offshore Holdings (BVI) Limited 100% January 2022 Nanning Xinrong Zhongrong Logistics Co., Ltd 100% February 2022 Kawanishi 1 TMK 100% February 2022 Kawanishi 2 TMK 100% February 2022 LV Project 6 Pte Ltd 100% February 2022 ARA Real Estate Investors X Pte. Ltd. 100% April 2022 Islay Eleven Singapore Holding Pte. Ltd. 100% May 2022 ARA Real Estate Investors 25 Limited 100% May 2022 Harmony V/FM (ADIII)/Mgrs (MIP) 100% June 2022 Langfang Baiyi Supply Chain Co., Ltd 100% June 2022 Sanhe City Yiyang E-commerce Industrial Park Co., LTD 90% August 2022 RW Kafu 2 Pte Ltd 100% August 2022 Victory Lane Development Limited 49% August 2022 Hana K Pte Ltd 100% August 2022 Korea DC 1 Pte Ltd 50% August 2022 SKDC 1 Pte Ltd 96% August 2022 ARC UK (Holdings) Pte Ltd/ARC Asset Management Limited 100% November 2022 ESR DC Investor 1 Pte Ltd 100% November 2022 ESR DC Investor 7 Pte Ltd 100% November 2022 US$’000 Net assets disposed of Investment in joint ventures 14,812 Investment properties 97,970 Financial assets at fair value through profit or loss 5,089 Cash and bank balances 39,748 Prepayments, trade and other receivables and other assets 242,350 Deferred tax assets 115 Trade payables, accruals and other payables# (366,762) Non-controlling interests (3,041) 30,281 Exchange fluctuation reserve 5,223 Gain on disposal of subsidiaries 308 35,812 Satisfied by Cash 35,042 Financial assets at fair value through profit or loss 770 35,812 # Included an amount of US$108,634,000 that was subsequently repaid by the joint ventures and funds to the Group during the year. STRATEGIC REPORT FINANCIAL STATEMENT CORPORATE GOVERNANCE
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