FORWARD TOGETHER Notes to the Consolidated Financial Statements 31 December 2022 210 36. DISPOSAL OF SUBSIDIARIES (continued) In April 2022, the Group has, through its wholly-owned subsidiary, entered into a sale and purchase agreement to dispose of 47.38% interests in a subsidiary, which is Brendale Asset Trust. US$’000 Net assets disposed of Investment properties 110,945 Cash and bank balances 1,800 Trade receivables, prepayments, trade and other receivables 457 Bank and other borrowings (66,509) Trade payables (2,268) 44,425 Gain on disposal of subsidiaries 517 44,942 Satisfied by Cash 21,565 Investment in a joint venture 23,377 44,942 An analysis of the net inflow of cash and cash equivalents in respect of the disposal of a subsidiary is as follows: US$’000 Cash consideration 21,565 Cash and bank balances of a subsidiary disposed of (1,800) Net inflow of cash and cash equivalents included in cash flows related to investing activities 19,765
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