Group Company Note 2022 2021 2022 2021 $’000 $’000 $’000 $’000 Restated* Equity attributable to owners of the Company Share capital 19 1,991,397 1,991,397 1,991,397 1,991,397 Reserves 20 7,224,938 6,409,406 4,152,180 4,341,009 9,216,335 8,400,803 6,143,577 6,332,406 Non-controlling interests 348,487 918,469 – – Total equity 9,564,822 9,319,272 6,143,577 6,332,406 Non-current liabilities Interest-bearing borrowings 22 7,315,400 5,952,032 6,091,010 3,937,631 Employee benefits 26 7,304 24,637 – – Lease liabilities 27 672,633 246,003 26,642 9,600 Derivative financial liabilities 11 645 1,295 645 346 Other liabilities 28 136,143 220,571 759,708 8,041 Provisions 29 16,147 22,129 – – Deferred tax liabilities 30 350,253 196,068 19,384 18,565 8,498,525 6,662,735 6,897,389 3,974,183 Current liabilities Trade and other payables 31 1,464,929 1,454,931 2,241,789 2,607,125 Derivative financial liabilities 11 1,560 14,582 1,560 14,582 Contract liabilities 15 613,598 724,077 8,190 – Interest-bearing borrowings 22 2,354,022 5,187,961 1,361,234 3,200,708 Lease liabilities 27 24,806 19,324 5,880 6,322 Employee benefits 26 28,563 33,576 1,960 2,960 Provision for taxation 339,768 368,682 7,857 7,086 Provisions 29 90,450 93,928 – – 4,917,696 7,897,061 3,628,470 5,838,783 Liabilities directly associated with the assets held for sale 6 – 1,201 – – 4,917,696 7,898,262 3,628,470 5,838,783 Total liabilities 13,416,221 14,560,997 10,525,859 9,812,966 Total equity and liabilities 22,981,043 23,880,269 16,669,436 16,145,372 * Refer to Note 47 STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 The accompanying notes form an integral part of these financial statements. Group Company Note 2022 2021 2022 2021 $’000 $’000 $’000 $’000 Restated* Non-current assets Property, plant and equipment 4 4,060,810 5,361,835 45,525 32,543 Investment properties 5 4,967,014 4,982,846 406,491 413,152 Investments in: – subsidiaries 7 – – 1,949,089 1,996,087 – associates 8 1,263,713 816,979 – – – joint ventures 9 1,083,024 1,037,046 37,360 37,360 Financial assets 10 637,430 740,686 431,599 351,438 Derivative financial assets 11 40,449 4,762 40,449 – Other non-current assets 12 348,924 177,795 6,428,732 6,205,239 12,401,364 13,121,949 9,339,245 9,035,819 Current assets Development properties 13 5,957,597 5,839,471 166,106 175,792 Contract costs 14 66,877 74,996 – – Contract assets 15 465,018 402,330 – – Consumable stocks 8,131 10,771 36 37 Financial assets 10 7,104 26,848 135 – Derivative financial assets 11 71,800 21,511 71,800 21,511 Trade and other receivables 16 1,625,538 1,892,967 6,477,615 6,225,891 Cash and cash equivalents 18 2,363,197 2,100,700 614,499 686,322 10,565,262 10,369,594 7,330,191 7,109,553 Assets held for sale 6 14,417 388,726 – – 10,579,679 10,758,320 7,330,191 7,109,553 Total assets 22,981,043 23,880,269 16,669,436 16,145,372 * Refer to Note 47 STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 The accompanying notes form an integral part of these financial statements. CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2022 FINANCIALS 114 115
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