Significant non-cash transactions For the year ended 31 December 2024, the Group has the following significant non-cash transactions: • The Company entered into a loan agreement with the immediate holding company with regards to the following outstanding balances with the immediate holding company as at 20 December 2024: - non-trade amount due from immediate holding company of $2,281,000; - non-trade amount due to immediate holding company of $472,984,000; - dividend payable to immediate holding company of $3,750,000; and - interest payable to immediate holding company of $9,986,000. The total outstanding amount due to immediate holding company of $484,439,000 has been converted into a quasiequity loan classified within equity where the Company is not required to repay the loan under any circumstances and the repayment is entirely at the discretion of the Company. For the year ended 31 December 2023, the Group has the following significant non-cash transactions: • Partial proceeds from the disposal of a subsidiary of $41,165,000 were reinvested into an associate of the Group; and • The investment in a joint venture of $16,827,000 and loan to a joint venture of $25,772,000 were set-off with the transfer of property, plant and equipment of $42,599,000 into a newly incorporated invested entity; and • The loans to joint venture of $177,605,000 were converted into redeemable preference shares (“RPS”). Consolidated Statement of Cash Flows (Cont’d) Year ended 31 December 2024 The accompanying notes form an integral part of these financial statements. 168 PERENNIAL HOLDINGS PRIVATE LIMITED
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