82 Notes to Condensed Consolidated Financial Information 30 June 2024 STRENGTH IN UNITY 22. DISPOSAL GROUP HELD FOR SALE Disposal group held for sale is primarily related to the following portfolio of warehousing facilities: Hong Kong warehousing facility The Group has initiated the sale of a portfolio of warehousing facility (the “Target Entity”) in Hong Kong with potential investors. The Target Entity is a wholly-owned subsidiary of the Company as of 30 June 2024. As a result, all assets and liabilities of the Target Entity (including the investment property) were reclassified as disposal group held for sale as at 30 June 2024. Details of assets and liabilities classified as held for sale as at 30 June 2024 are as follows: As at 30 June 2024 US$’000 Assets Investment properties 253,623 Cash and bank balances 7,199 Other assets 311 Assets of a disposal group classified as held for sale 261,133 Liabilities Bank and other borrowings (127,997) Other liabilities (131,428) Liabilities directly associated with assets classified as held for sale (259,425) Net assets directly associated with the disposal group 1,708 As at 30 June 2024, the bank and other borrowings of US$127,997,000 bears floating interest rate with maturity in August 2028. As of 30 June 2024, the interest rate was 6.77% per annum. The investment property with a fair value of US$253,623,000 was pledged to secure bank and other borrowings. The fair value of the investment properties under the disposal group held for sale as at 30 June 2024 was based on the valuation conducted by CBRE Advisory HK Limited using residual method on the investment property which will be developed or converted into a data centre (Level 3).
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