Notes to Condensed Consolidated Financial Information 30 June 2024 79 ESR Group Limited Interim Report 2024 19. OTHER NON-CURRENT LIABILITIES 30 June 2024 31 December 2023 (Unaudited) (Audited) US$’000 US$’000 Amounts due to related parties (note (i)) 2,965 2,806 Deferred revenue 4,669 8,147 Provision for long services payment and retirement pension 525 263 Long-term employee benefits liability 904 6,512 Redemption value of the option granted to non-controlling shareholders of a subsidiary (note (ii)) — 112,864 Security deposits 7,489 7,808 Others 1,508 934 18,060 139,334 Notes: (i) The amounts due to related parties are non-trade in nature and unsecured. As at 30 June 2024, the balance bears interest of 11.61% to 19.16% (31 December 2023: 11.82% to 12.25%) per annum. (ii) The redemption value of the option granted to non-controlling shareholders of a subsidiary represents liabilities of the Group to acquire interest owned by the non-controlling shareholders of a subsidiary, determined based on net asset fair value. Pursuant to the Company announcement on 21 and 26 July 2024, the Company has completed the acquisition of the interest owned by a non-controlling shareholder of the subsidiary on 20 June 2024; and entered into share purchase agreements with the remaining non-controlling shareholders on 25 July 2024. Refer to announcement dated 21 and 26 July 2024 for more details. Consequently, the redemption value of option granted to non-controlling shareholders of a subsidiary has been reclassified to Trade payables, accruals and other payables (Note 20) as of 30 June 2024. 20. TRADE PAYABLES, ACCRUALS AND OTHER PAYABLES Trade payables, accruals and other payables balance comprise of: 30 June 2024 31 December 2023 (Unaudited) (Audited) US$’000 US$’000 Trade payables 18,210 13,681 Redemption value of the option granted to non-controlling shareholders of a subsidiary 170,983 — Accruals and other payables 368,187 347,028 Total 557,380 360,709 An aging analysis of the trade payables as at 30 June 2024 and 31 December 2023, based on the invoice date, is as follows: 30 June 2024 31 December 2023 (Unaudited) (Audited) US$’000 US$’000 Within 30 days 16,358 11,939 31 to 60 days 1,017 156 Over 60 days 835 1,586 Total 18,210 13,681 The amounts due to related parties of US$28,574,000 (31 December 2023: US$15,088,000) are non-trade in nature, unsecured, and payable on demand. As at 30 June 2024, the balance of US$411,000 (31 December 2023: US$410,000) bears an interest of 6.10% (31 December 2023: 6.10%) per annum. The remaining balance is interest-free.
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