13 TRADE AND OTHER PAYABLES (continued) At 31 December 2023, non-trade amounts due to immediate holding company consisted of the followings: (i) Loan of $199.7 million, which was unsecured, bears interest at 4.5% per annum and will not be repayable within the next 12 months; and (ii) The remaining amount of $134.1 million were unsecured, interest-free and repayable on demand. During the year, the Company entered into a loan agreement with the immediate holding company and converted these amounts into a quasi-equity loan from the immediate holding company. The loan is 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. Non-trade amounts due to subsidiaries consist of the followings: (i) Loan of $310.5 million (2023: $252.7 million), which is unsecured, bears interest at 7.30% to 9.95% (2023: 6.91% – 7.85%) per annum and will not be repayable within the next 12 months; and (ii) The remaining amount of $70.6 million (2023: $3.2 million), which are unsecured, interest-free and repayable on demand. Non-trade amounts due to joint ventures consist of the followings: (i) Loans of $127.4 million (2023: $127.2 million), which are unsecured, interest-free and will not be repayable within the next 12 months; and (ii) The remaining amount of $2.0 million (2023: $1.0 million), which are unsecured, interest-free and repayable on demand. Non-trade amounts due to related corporations consist of the followings: (i) $17.3 million (2023: $17.6 million) relates to the consideration payable for acquisition of additional equity interests in Chengdu Huifeng Commercial Real Estate Co., Ltd which is unsecured, bears interest at 4.60% (2023: 4.30%) per annum and repayable on demand; (ii) Loan of $20.6 million (2023: $Nil) which is unsecured, bears interest at 5% per annum and repayable in 2026; and (iii) Loan of $15.0 million (2023: $Nil) which is unsecured, bears interest at 6.5% per annum and repayable in 2025. Non-trade amounts due to non-controlling interests consist of the followings: (i) Loans of $45.9 million (2023: $99.5 million) which are unsecured, interest-free and repayable on demand; (ii) The remaining of $109.6 million (2023: $83.0 million), which are unsecured, interest-free and will not be repayable within the next 12 months. The Group and the Company’s exposures to liquidity and market risks relating to trade and other payables are disclosed in note 23. Notes to the Financial Statements Year ended 31 December 2024 OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 203 ANNUAL REPORT 2024
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