180 CSE Global Limited 27. Leases – As a lease (cont’d) Effective interest rates The weighted average effective interest rate of the leases is 5.30% and 3.25% per annum (2023: 4.95% and 3.26%) at the balance sheet date for the Group and Company respectively. The following are the amounts recognised in profit or loss: Group Company 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Depreciation expense of right-of-use assets 9,905 7,071 544 545 Interest expense on lease liabilities 1,178 829 44 62 Expense relating to short-term leases (included in cost of sales and administrative expense) 4,821 6,084 – – Total amount recognised in profit or loss 15,904 13,984 588 607 The Group had total cash outflows for leases of $15,788,000 in 2024 (2023: $14,219,000). The Group has several lease contracts that include extension options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. 28. Asset held-for-sale Asset classified as held-for-sale as at 31 December 2024 refers to land and building located in Houston, United States (2023: land and building located in Louisiana, United States), which has been classified as asset held-for-sale in accordance with SFRS(I) 5 Non-current Assets Held for Sale and Discontinued Operations. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024
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