ESR Group Limited Annual Report 2023 183 Notes to the Consolidated Financial Statements 31 December 2023 15. INVESTMENTS IN JOINT VENTURES AND ASSOCIATES (continued) e-Shang Star Sunwood Star ESR-GIC EMP Cromwell Property Group Kenedix, Inc US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 31 December 2022 Cash and bank balances 148,875 40,865 55,360 24,957 84,908 294,336 Other current assets 34,715 1,698 32,934 5,075 186,194 1,295,784 Current assets 183,590 42,563 88,294 30,032 271,102 1,590,120 Non-current assets 2,006,918 1,785,020 791,122 2,538,770 2,915,134 622,520 Financial liabilities, excluding trade and other payables — — 4,196 — 51,012 21,559 Other current liabilities 56,386 7,741 87,360 12,996 54,905 46,326 Current liabilities 56,386 7,741 91,556 12,996 105,917 67,885 Non-current financial liabilities, excluding trade and other payables 695,469 226,200 232,998 1,521,015 1,366,987 1,237,775 Other non-current liabilities 247,178 175,240 46,857 — 805 10,057 Non-current liabilities 942,647 401,440 279,855 1,521,015 1,367,792 1,247,832 Net assets 1,191,475 1,418,402 508,005 1,034,791 1,712,527 896,923 Proportion of the Group’s ownership 25.6455% 20.00% 51.00% 20.00% 30.69% 30.00% Carrying amount of the investment 288,580 283,506 256,040 206,958 575,043 434,221 Revenue 88,480 31,858 4,255 128,127 257,377 565,555 Interest income 407 2,108 — 209 — — Interest expenses (31,569) (6,065) (2,760) (40,207) (56,756) (11,686) Tax (48,879) (32,731) (30,276) — 2,841 (40,714) Profit for the year 124,676 232,516 85,373 68,110 832 90,087 Total comprehensive income for the year 124,676 153,080 85,373 85,441 7,207 94,551 Distribution during the year 2,565 57,337 — 4,628 33,417 22,962 The following table illustrates the aggregate financial information of the Group’s joint ventures and associates that are not individually material: 2023 2022 US$’000 US$’000 Share of the joint ventures and associates’ profit for the year 3,736 61,311 Share of the joint ventures and associates’ total comprehensive income for the year 1,971 68,540 Aggregate carrying amount of the Group’s investments in the joint ventures and associates 1,051,886 911,468 CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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