212 Notes to the Consolidated Financial Statements 31 December 2023 36. DISPOSAL OF SUBSIDIARIES (continued) Higashi Ogishima On 4 August 2023, a certain subsidiary of the Company entered into the Sale and Purchase Agreement with a fund entity in relation to the sale of its entire issued share capital of RW Higashi SPE 1 Pte Ltd and HGS Japan Pte Ltd. The Group has 40% interest in the fund entity. The sale was completed on 21 September 2023. US$’000 Net assets disposed of: Investment properties 193,689 Cash and bank balances 11,573 Other assets 350 Bank and other borrowings (71,097) Other liabilities (53,072) 81,443 Exchange fluctuation reserve 1,553 Transaction costs 1,506 Gain on disposal of subsidiaries 3,151 87,653 Satisfied by: Cash 79,997 Financial assets at fair value through profit or loss 7,656 87,653 An analysis of the net inflow of cash and cash equivalents in respect of the disposal of a subsidiary is as follows: US$’000 Cash consideration 79,997 Cash and bank balances of a subsidiary disposed of (11,573) Net inflow of cash and cash equivalents included in cash flows related to investing activities 68,424 STRENGTH IN UNITY
RkJQdWJsaXNoZXIy MTIwODcxMw==