164 Notes to the Consolidated Financial Statements 31 December 2023 4. OPERATING SEGMENT INFORMATION (continued) Intersegment sales and transfers are transacted with reference to the selling prices used for sales made to third parties at the then prevailing market prices. Year ended 31 December 2023 Investment Fund management New Economy development Total US$’000 US$’000 US$’000 US$’000 Segment revenue 78,329 736,747 56,250 871,326 — Intersegment sales — 11,910 — 11,910 78,329 748,657 56,250 883,236 Reconciliation: Elimination of intersegment sales — (11,910) — (11,910) Revenue from continuing operations 78,329 736,747 56,250 871,326 Operating expenses (28,630) (187,723) (76,715) (293,068) Fair value gains/(losses) on investment properties (1,787) — 189,509 187,722 Changes in carrying value of financial assets at fair value through profit or loss (2,126) (42) 3,327 1,159 Changes in fair value of assets held for sale (411) — (4,256) (4,667) Changes in fair value of financial derivative assets — (4,146) — (4,146) Share of profits and losses of joint ventures and associates, net (95,579) 25,984 49,226 (20,369) Loss on disposal of interests in joint ventures and associates — — (1,188) (1,188) Gain on disposal of interests in financial assets at fair value through profit or loss 69 292 1,784 2,145 Gain on disposal of investment properties — — 18,658 18,658 Gain/(loss) on disposal of subsidiaries 1,016 (197) 23,253 24,072 Gain on disposal of assets held for sale 1,378 — — 1,378 Dilution gain of interests in investment in an associate — — 4,105 4,105 Impairment of investments in joint ventures and associates — — (5,172) (5,172) Other income — 1,332 1,000 2,332 Dividend income 81,844 2,435 — 84,279 Segment result 34,103 574,682 259,781 868,566 Reconciliation: Depreciation and amortisation (50,343) Exchange loss (2,122) Interest income 32,885 Finance costs (312,901) Share-based compensation expense (19,178) Gain on early redemption of convertible bond 17,181 Other unallocated gains 10,561 Corporate and other unallocated expenses (150,411) Profit before tax from continuing operations 394,238 Other segment information: Depreciation and amortisation (50,343) Capital expenditure* 362,398 Investments in joint ventures and associates 3,381,555 STRENGTH IN UNITY
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