115 ANNUAL REPORT 2023 Group Company Note 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Non-current assets Property, plant and equipment 4 70,337 63,519 768 1,063 Right-to-use assets 27 26,215 19,763 1,325 1,870 Investment in subsidiaries 5 − − 223,070 136,840 Investment in an associate 166 190 − − Intangible assets 7 93,432 80,826 − − Deferred tax assets 8 7,018 3,079 540 506 Finance lease receivables 24 223 337 − − 197,391 167,714 225,703 140,279 Current assets Contract assets 9 124,765 93,793 − − Inventories 10 70,764 52,025 − − Trade and other receivables 11 153,013 138,073 1,028 915 Finance lease receivables 24 166 263 − − Prepaid operating expenses 8,932 7,581 363 431 Amounts due from subsidiaries 5 − − 120,258 169,803 Cash and bank balances 12 39,426 34,211 3,321 1,115 397,066 325,946 124,970 172,264 Asset held-for-sale 28 3,911 − − − 400,977 325,946 124,970 172,264 Total assets 598,368 493,660 350,673 312,543 Current liabilities Contract liabilities 9 96,703 39,588 − − Trade payables and accruals 13 127,012 102,611 4,985 2,070 Lease liabilities 27 8,380 6,735 669 640 Loans and borrowings 14 95,927 68,738 92,791 62,697 Derivative liability 6 6 196 6 196 Amounts due to subsidiaries 5 − − 72,983 44,436 Provision for warranties 15 316 595 − − Provision for taxation 6,541 4,082 309 136 334,885 222,545 171,743 110,175 Net current assets/(liabilities) 66,092 103,401 (46,773) 62,089 Non-current liabilities Deferred tax liabilities 8 6,136 3,666 − − Lease liabilities 27 19,395 14,940 1,051 1,745 Loans and borrowings 14 19,500 37,677 19,500 37,677 Other liabilities 13 2,372 2,532 − − 47,403 58,815 20,551 39,422 Total liabilities 382,288 281,360 192,294 149,597 Net assets 216,080 212,300 158,379 162,946 BALANCE SHEETS As at 31 December 2023 The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
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