90 Notes to Condensed Consolidated Financial Information 30 June 2024 STRENGTH IN UNITY 25. COMMITMENTS (continued) (b) Capital commitments 30 June 2024 31 December 2023 (Unaudited) (Audited) US$’000 US$’000 Contracted, but not provided for investment properties 311,282 449,607 Contracted, but not provided for plant and machinery 6,724 8,709 Undrawn capital calls to real estate investment funds 1,717,306 1,675,211 2,035,312 2,133,527 26. RELATED PARTY TRANSACTIONS The Group had the following material transactions with related parties during the six months ended 30 June 2024 and 2023: (a) Transactions with related parties: For the six months ended 30 June 2024 2023 (Unaudited) (Unaudited) US$’000 US$’000 Associates: — Management fee income (note (i)) 76,426 77,587 — Sale of investment property — 14,192 — Construction revenue 17,844 — Joint ventures and associates: — Management fees income (note (i)) 46,216 42,989 — Repayment from/(Advances to) joint ventures and associates (note (ii)) (9,678) (11,093) — Interest income on investment in debentures (note (ii)) 1,015 826 Directors: — Interest receivables from directors (note 26 (d)) 452 438 Notes: (i) The Group and its subsidiaries entered into agreements with joint ventures and associates (including their operating subsidiaries) to charge management services, which comprised the following: a) Land acquisition fee at a certain percentage of the net land cost; b) Development fee at a certain percentage of the total budget of project development cost during the construction period; c) Asset management fee at a certain percentage of the aggregate costs of the project before stabilisation or at fair value after stabilisation; and d) Leasing fee in respect of each new lease entered into. (ii) Repayment from/(advances to) related parties and joint ventures are unsecured, interest-free and repayable on demand. The outstanding net amounts due from joint ventures and associates as of 30 June 2024 is US$37,269,000 (30 June 2023: US$36,581,000).
RkJQdWJsaXNoZXIy MTIwODcxMw==