Notes to Condensed Consolidated Financial Information 30 June 2024 65 ESR Group Limited Interim Report 2024 7. INCOME TAX EXPENSE For the six months ended 30 June 2024 2023 (Unaudited) (Unaudited) US$’000 US$’000 Current tax 24,737 26,511 Deferred tax (4,724) 32,250 20,013 58,761 The Company was incorporated in the Cayman Islands as an exempted company with limited liability under the Cayman Islands Companies Law and is exempted from the payment of Cayman Islands income tax. During the period, Hong Kong profits tax has been provided at the rate of 16.5% (30 June 2023: 16.5%) on the assessable profits arising in Hong Kong. During the period, China profits tax has been provided at the rate of 25% (30 June 2023: 25%) on the assessable profits arising in China. During the period, Singapore profits tax has been provided at the rate of 17% (30 June 2023: 17%) on the assessable profits arising in Singapore. During the period, Australia profits tax has been provided at the rate of 30% (30 June 2023: 30%) on the assessable profits arising in Australia. Taxes on estimated assessable profits elsewhere were calculated at the rates of taxation prevailing in the respective jurisdictions in which the Group operates. 8. DIVIDENDS On 21 March 2024, the board of directors declared a final dividend of HK$12.5 cents per ordinary share for the financial year ended 31 December 2023 (2022: final dividend of HK$12.5 cents per ordinary share for the financial year ended 31 December 2022), amounting to US$67,375,000 (2022 final dividend: US$69,886,000). The final dividend of US$67,375,000 was paid by the Company during the six months ended 30 June 2024 (30 June 2023: US$69,886,000). The Board has not recommended any interim dividend for the financial year ending 31 December 2024 (six months ended 30 June 2023: interim dividend of HK$12.5 cents per ordinary share for the financial year ended 31 December 2023, amounting to US$69,744,000). 9. (LOSS)/EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY Basic (loss)/earnings per share is calculated by dividing the profit attributable to ordinary equity holders of the Company (excluding distributions to holders of perpetual capital securities issued by a subsidiary) by the weighted average number of ordinary shares in issue during the period. The weighted average number of ordinary shares of 4,226,905,000 (30 June 2023: 4,403,420,000) in issue during the period. The calculation of the diluted (loss)/earnings per share amounts is based on the loss or profit for the period attributable to ordinary equity holders of the Company, where applicable. The weighted average number of ordinary shares used in the calculation is the number of ordinary shares in issue during the period, as used in the basic (loss)/earnings per share calculation, and the weighted average number of ordinary shares assumed to have been issued at no consideration on the deemed exercise or conversion of all dilutive potential ordinary shares into ordinary shares.
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