ESR Group Limited Annual Report 2023 227 Notes to the Consolidated Financial Statements 31 December 2023 44. RESERVES (continued) (b) The Company (continued) Share premium Sharebased payment reserve Exchange fluctuation reserve Accumulated losses Investment reserve (nonrecycling) Other reserve Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 As at 1 January 2022 2,022,188 29,899 19,590 (583,272) 17,357 29,218 1,534,980 Loss for the year — — — (157,126) — — (157,126) Change in fair value of financial assets at fair value through other comprehensive income — — — — (1,285) — (1,285) Share of other comprehensive loss of joint ventures — — (27,648) — — — (27,648) Total comprehensive loss for the year — — (27,648) (157,126) (1,285) — (186,059) Disposal of financial assets at fair value through other comprehensive income — — — 17,179 (17,179) — — Profit attributable to holders of perpetual capital securities — — — (14,333) — — (14,333) Acquisition of subsidiaries 4,338,816 — — — — — 4,338,816 Dividend distributions — — — (70,777) — — (70,777) Issue of new shares 249,923 — — — — — 249,923 Share repurchased and cancellation (169,253) — — — — — (169,253) Issue of shares upon exercise of share options 6,349 (6,838) — — — — (489) Transfer of share-based payment reserve upon the forfeiture of share options — (21) — 21 — — — Issue of shares upon vesting of units under Long Term Incentive Scheme 196 (1,354) — — — — (1,158) Share-based compensation arrangement — 25,709 — — — — 25,709 As at 31 December 2022 6,448,219 47,395 (8,058) (808,308) (1,107) 29,218 5,707,359 45. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES The Group’s principal financial instruments comprise bank and other borrowings, financial liabilities included in trade and other payables, cash and bank balances, trade receivables, financial assets included in prepayments, other receivables and other assets, financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, and financial assets included in other non-current assets. The main purpose of these financial instruments is to raise finance for the Group’s operations. The Group has various financial assets such as trade receivables, cash and short-term deposits, which arose directly from its operations. The main risks faced by the Group are interest rate risk, foreign currency risk, credit risk, liquidity risk and equity price risk. The Group monitors closely and assesses the use of financial derivative instruments as additional tools when appropriate to manage the financial risks exposure. The Group does not hold or issue financial derivative instruments for trading purposes. The directors review and agree policies for managing each of the risks which are summarised below: CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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