Notes to the Financial Statements For the financial year ended 31 December 2025 Notes to the Financial Statements For the financial year ended 31 December 2025 5. PROPERTY, PLANT AND EQUIPMENT Leasehold land and buildings Renovation Computer equipment and software Plant and machinery Furniture, fittings and equipment Motor vehicles Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 Group Cost At 1 January 2024 960 3,994 4,477 1,055 11,259 426 22,171 Additions 54,560 25,373 1,000 16,032 3,569 – 100,534 Disposals – – – (298) (93) – (391) Written-off – – (140) – (3,347) – (3,487) Reclassification – (9) – – 9 – – Translation differences (288) (174) (49) (160) (29) (3) (703) At 31 December 2024 55,232 29,184 5,288 16,629 11,368 423 118,124 At 1 January 2025 55,232 29,184 5,288 16,629 11,368 423 118,124 Additions 134,510 38,888 1,863 9,053 4,464 – 188,778 Acquisition of a subsidiary (Note 8) 7,357 6,204 622 5,330 351 – 19,864 Disposals (142) – – (21) (22) – (185) Written-off – – (83) (1) (565) – (649) Translation differences (2,495) (1,097) (140) (1,026) 137 (7) (4,628) At 31 December 2025 194,462 73,179 7,550 29,964 15,733 416 321,304 Accumulated depreciation At 1 January 2024 747 2,789 2,273 331 8,318 336 14,794 Depreciation charge for the year 2,205 702 601 141 779 35 4,463 Disposals – – – (215) (38) – (253) Written-off – – (140) – (3,347) – (3,487) Translation differences (10) (27) 8 (67) (23) (4) (123) At 31 December 2024 2,942 3,464 2,742 190 5,689 367 15,394 At 1 January 2025 2,942 3,464 2,742 190 5,689 367 15,394 Depreciation charge for the year 17,945 3,241 618 1,928 1,797 27 25,556 Disposals (74) – – (13) (22) – (109) Written-off – – (83) – (546) – (629) Reclassification – – 4 – (4) – – Translation differences (10) 4 (37) 23 38 (7) 11 At 31 December 2025 20,803 6,709 3,244 2,128 6,952 387 40,223 Carrying amounts At 1 January 2024 213 1,205 2,204 724 2,941 90 7,377 At 31 December 2024 52,290 25,720 2,546 16,439 5,679 56 102,730 At 31 December 2025 173,659 66,470 4,306 27,836 8,781 29 281,081 5. PROPERTY, PLANT AND EQUIPMENT (continued) Leasehold buildings Renovation Furniture, fittings and office equipment Computer equipment and software Motor vehicles Total $’000 $’000 $’000 $’000 $’000 $’000 Company Cost At 1 January 2024 960 1,249 364 385 197 3,155 Additions 1,666 97 131 58 – 1,952 At 31 December 2024 2,626 1,346 495 443 197 5,107 At 1 January 2025 2,626 1,346 495 443 197 5,107 Additions – – – 46 – 46 At 31 December 2025 2,626 1,346 495 489 197 5,153 Accumulated depreciation At 1 January 2024 747 971 271 346 130 2,465 Depreciation charge 324 301 135 70 20 850 At 31 December 2024 1,071 1,272 406 416 150 3,315 At 1 January 2025 1,071 1,272 406 416 150 3,315 Depreciation charge 333 32 49 58 20 492 At 31 December 2025 1,404 1,304 455 474 170 3,807 Carrying amounts At 1 January 2024 213 278 93 39 67 690 At 31 December 2024 1,555 74 89 27 47 1,792 At 31 December 2025 1,222 42 40 15 27 1,346 Right-of-use assets As at 31 December 2025, the Group’s and the Company’s property, plant and equipment includes right-of-use assets of $173.7 million (2024: $52.3 million) and $1.2 million (2024: $1.6 million), respectively related to leased properties. 6. INVESTMENT PROPERTIES Group 2025 2024 $’000 $’000 At beginning of the year 4,254,759 4,148,293 Additions 228,396 102,288 Change in fair value (1,839) 45,464 Translation differences (88,233) (41,286) At end of the year 4,393,083 4,254,759 Investment properties comprise 5 (2024: 5) completed commercial properties, 1 (2024: 1) completed hotel property which are leased to third party tenants and 5 (2024: 4) investment properties under development. The leases contain remaining lease terms ranging from 1 year to 14 years (2024: 1 years to 14 years). Subsequent renewals are negotiated with the lessees. See Note 27 for further information. OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 195 194 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025
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