181 ANNUAL REPORT 2023 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2023 14. LOANS AND BORROWINGS Group Company 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Short term trust receipts, unsecured - Singapore Dollars 2,497 247 2,497 247 - United States Dollars 273 930 273 930 - Australian Dollars 2,136 5,535 − − Short term bank and other loans, unsecured - Singapore Dollars 42,802 3,585 41,802 3,585 - United States Dollars 986 43,860 986 43,861 - Australian Dollars 5,941 6,953 5,941 6,910 - New Zealand Dollars 2,711 1,016 2,711 552 - Pound Sterling 6,953 6,612 6,953 6,612 - European Dollars 31,628 − 31,628 − 95,927 68,738 92,791 62,697 Long term bank loan, unsecured - Singapore Dollars 19,500 22,500 19,500 22,500 - United States Dollars − 15,177 − 15,177 19,500 37,677 19,500 37,677 Total loans and borrowings 115,427 106,415 112,291 100,374 The unsecured loans of the Company and the Group bear interest at 4.37% to 6.95% (2022: 4.02% to 10.24%) per annum. A reconciliation of liabilities arising from financing activities is as follows: Group 2023 2022 $’000 $’000 At 1 January 106,415 95,385 Net proceeds of borrowings 8,206 12,132 Non-cash changes: - Acquisition of subsidiaries 1,521 648 - Foreign exchange movement (715) (1,750) At 31 December 115,427 106,415
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