157 Annual Report 2024 5. Investment in subsidiaries and amounts due from/(to) subsidiaries (cont’d) Acquisition of businesses in 2023 (cont’d) Acquisition of business in United States (cont’d) Transaction costs Transaction costs relating to the acquisition of USD 138,000 (approximately $186,000) were recognised in the “administrative expenses” line item in the Group’s profit or loss for the year ended 31 December 2023. Goodwill arising from acquisition The goodwill arising from the acquisition of Radio One comprises the value of expanding and strengthening the Group’s market position in provision of radio communication business and solutions in the United States. Impact on the acquisition on profit or loss Since the acquisition date, Radio One has contributed USD 15,883,000 (approximately $21,364,000) of revenue. If the business combination had taken place at the beginning of the year, revenue contributed would have been USD 17,267,000 (approximately $23,231,000). Amounts due from subsidiaries Company 2024 2023 $’000 $’000 Amounts due from subsidiaries, current: Trade 6,333 8,369 Non-trade 55,199 55,466 Short term loans 62,344 56,423 123,876 120,258 Amounts due from subsidiaries denominated in foreign currencies at 31 December are as follows: Company 2024 2023 $’000 $’000 United States Dollars 80,156 86,831 British Pounds Sterling 6,880 7,682 Australia Dollars 22,788 13,586 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024
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