ESR Group Limited Annual Report 2022 Notes to the Consolidated Financial Statements 31 December 2022 191 23. PREPAYMENTS, OTHER RECEIVABLES AND OTHER ASSETS As at 31 December 2022 As at 31 December 2021 US$’000 US$’000 Contract assets 3,275 936 Consideration receivable from disposal of subsidiaries 7,406 1,918 Deductible value-added tax 63,417 70,554 Deposits for acquisition 61,820 35,593 Dividend receivable 8,487 396 Due from joint ventures 3,778 4,064 Due from associates 327 — Due from related parties (note 40(d)) 9,607 10,031 Due from non-controlling shareholders of subsidiaries 3,155 — Loan receivables from third parties 64,223 — Prepayments on behalf of funds 2,963 3,377 Prepayments to suppliers 13,419 8,206 Receivable from funds 116,409 6,612 Other receivables 56,472 14,387 414,758 156,074 The amounts due from joint ventures and associates are unsecured, interest-free and payable on demand. The financial assets included in the above balances related to receivables for which there was no recent history of default. As at 31 December 2022 and 2021, other receivables of the Group were considered to be of low credit risk and thus the Group has assessed that the ECL for other receivables was immaterial under the 12-month expected credit loss method. 24. CASH AND BANK BALANCES As at 31 December 2022 As at 31 December 2021 US$’000 US$’000 Cash and cash in bank 1,709,007 1,517,533 Non-pledged fixed time deposits with a maturity period over three months — — Restricted bank balances 95,878 68,550 Pledged bank deposits (note 25) 2,030 52,145 1,806,915 1,638,228 The Renminbi (“RMB”) is not freely convertible into other currencies, however, under China’s Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment of Foreign Exchange Regulations, the Group is permitted to exchange RMB for other currencies through banks authorised to conduct foreign exchange business. STRATEGIC REPORT FINANCIAL STATEMENT CORPORATE GOVERNANCE
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