113 Annual Report 2024 Group Company Note 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Non-current assets Property, plant and equipment 4 54,057 70,337 476 768 Right-to-use assets 27 23,529 26,215 781 1,325 Investment in subsidiaries 5 − − 251,535 223,070 Investment in an associate 129 166 − − Intangible assets 7 107,419 93,432 − − Deferred tax assets 8 7,591 7,018 760 540 Finance lease receivables 24 161 223 − − Other asset 3 − − − 192,889 197,391 253,552 225,703 Current assets Contract assets 9 121,160 124,765 − − Inventories 10 58,722 70,764 − − Trade and other receivables 11 167,290 153,013 1,323 1,028 Finance lease receivables 24 51 166 − − Prepaid operating expenses 10,937 8,932 373 363 Amounts due from subsidiaries 5 − − 123,876 120,258 Cash and bank balances 12 57,401 39,426 9,455 3,321 415,561 397,066 135,027 124,970 Asset held-for-sale 28 24,181 3,911 − − 439,742 400,977 135,027 124,970 Total assets 632,631 598,368 388,579 350,673 Current liabilities Contract liabilities 9 85,686 96,703 − − Trade payables and accruals 13 119,480 127,012 2,560 4,985 Lease liabilities 27 10,215 8,380 699 669 Loans and borrowings 14 108,874 95,927 108,874 92,791 Derivative liability 6 − 6 − 6 Amounts due to subsidiaries 5 − − 61,189 72,983 Provision for warranties 15 914 316 − − Provision for taxation 7,730 6,541 − 309 332,899 334,885 173,322 171,743 Net current assets/(liabilities) 106,843 66,092 (38,295) (46,773) Non-current liabilities Deferred tax liabilities 8 6,965 6,136 − − Lease liabilities 27 14,950 19,395 325 1,051 Loans and borrowings 14 20,600 19,500 20,600 19,500 Other liabilities 13 1,189 2,372 − − 43,704 47,403 20,925 20,551 Total liabilities 376,603 382,288 194,247 192,294 Net assets 256,028 216,080 194,332 158,379 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. BALANCE SHEETS As at 31 December 2024
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