169 ANNUAL REPORT 2023 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2023 5. INVESTMENT IN SUBSIDIARIES AND AMOUNTS DUE FROM/(TO) SUBSIDIARIES (CONT’D) Amounts due to subsidiaries Company 2023 2022 $’000 $’000 Amounts due to subsidiaries, current: Trade 828 632 Non-trade 1,279 3,211 Short term loans 70,876 40,593 72,983 44,436 Amounts due to subsidiaries denominated in foreign currencies at 31 December are as follows: Company 2023 2022 $’000 $’000 United States Dollars 23,902 11,289 The trade and non-trade amounts due from/(to) subsidiaries are unsecured, non-interest bearing, repayable on demand and are to be settled in cash. The short term loans due from subsidiaries bear interest at 5.0% to 8.0% per annum (2022: 2.0% to 8.0%). The short term loans due to subsidiaries bear interest at 3.8% to 4.5% per annum (2022: 1.5% to 6.2%). 6. DERIVATIVE LIABILITY Group and Company Notional amount Liability 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Interest rate swap, representing financial liability at fair value through profit or loss 21,392 21,923 (6) (196)
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