FORWARD TOGETHER Notes to the Consolidated Financial Statements 31 December 2022 212 36. DISPOSAL OF SUBSIDIARIES (continued) An analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiaries is as follows: US$’000 Cash consideration 35,042 Cash and bank balances of subsidiaries disposed of (39,748) Net outflow of cash and cash equivalents included in cash flows related to investing activities (4,706) 37. CONTINGENT LIABILITIES As at 31 December 2022 and 2021, neither the Group nor the Company had any significant contingent liabilities. 38. PLEDGE OF ASSETS Details of the Group’s interest-bearing bank and other borrowings, which are secured by the assets of the Group, are included in note 25 to the financial statements. 39. COMMITMENTS (a) Operating lease commitments As lessor The Group leases out its completed investment properties under operating lease arrangements on terms ranging from one to ten years and with an option for renewal after the expiry dates, at which time all terms will be renegotiated. At 31 December 2022 and 2021, the Group had total future minimum leases receivable under noncancellable operating leases with its tenants falling due as stated in note 18. (b) Capital commitments As at 31 December 2022 As at 31 December 2021 US$’000 US$’000 Contracted, but not provided for investment properties 367,421 584,628 Contracted, but not provided for plant and machinery 7,636 — Undrawn capital calls to real estate investment funds 1,300,989 1,187,297 1,676,046 1,771,925
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