NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2025 10. INVENTORIES Group 2025 2024 $’000 $’000 Balance sheet: Spare parts 21,599 6,073 Trading goods 70,594 51,824 Inventories in transit 575 825 Total inventories at lower of cost and net realisable value 92,768 58,722 Income statement: Inventories recognised as an expense in profit or loss – Inventories recognised as an expense in cost of sales 476,035 412,832 – Write-down/(writeback) of inventories, net 838 (1,048) 11. TRADE AND OTHER RECEIVABLES Group Company 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Current: Trade receivables 126,004 117,242 1,637 1,138 Other receivables 15,276 24,519 − − Accrued sales 21,371 22,679 − − Refundable deposits 2,886 2,576 186 185 Staff advances 141 170 − − GST receivables 115 104 − − 165,793 167,290 1,823 1,323 Non-current: Other assets * 23,520 3 − − Total trade and other receivables 189,313 167,293 1,823 1,323 Add: Amounts due from subsidiaries (Note 5) − − 130,989 123,876 Cash and bank balances (Note 12) 46,177 57,401 2,244 9,455 Finance lease receivables (Note 6) 166 212 − − Less: GST receivables (115) (104) − − Other assets (14,502) (3) − − Total financial assets carried at amortised cost 221,039 224,799 135,056 134,654 Trade receivables arise from contracts with customers and are non-interest bearing and are generally on 30-day to 120-day terms (2024: 30-day to 120-day terms). They are recognised at their original invoice amounts which represent their fair values on initial recognition. ANNUAL REPORT 2025 161
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