ESR Group Limited Annual Report 2023 201 Notes to the Consolidated Financial Statements 31 December 2023 27. NON-CURRENT LIABILITIES As at 31 December 2023 As at 31 December 2022 US$’000 US$’000 Amounts due to related parties (note (i)) 2,806 2,599 Deferred revenue 8,147 4,917 Provision for long services payment and retirement pension 263 6,121 Long-term employee benefits liability 6,512 5,955 Redemption value of the option granted to non-controlling shareholders of a subsidiary (note (ii)) 112,864 93,687 Security deposits 7,808 16,999 Others 934 1,598 139,334 131,876 Note: (i) The amounts due to related parties are non-trade in nature and unsecured. As at 31 December 2023, the balance bears interest of 11.82% to 12.25% per annum. (ii) The redemption value of the option granted to non-controlling shareholders of a subsidiary represents liabilities of the Group to acquire interest owned by the non-controlling shareholders of a subsidiary, determined based on net asset fair value, as at 31 December 2023. 28. TRADE PAYABLES, ACCRUALS AND OTHER PAYABLE As at 31 December 2023 As at 31 December 2022 US$’000 US$’000 Trade payables 13,681 16,722 Accruals 70,730 80,595 Consideration payable for acquisition of subsidiaries 18,290 27,122 Deferred revenue 3,362 2,718 Interest payable 19,894 26,713 Due to non-controlling shareholders of subsidiaries 7,707 7,537 Due to related parties 15,088 3,854 Other tax payable 14,718 9,300 Payables for addition to property, plant and equipment and investment properties 110,474 126,092 Payable to a fund 2,402 2,713 Rental income received in advance 1,528 1,737 Staff payroll and welfare payables 70,084 85,791 Others 12,751 12,598 360,709 403,492 CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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