NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 December 2021 4. OPERATING SEGMENT INFORMATION (continued) Year ended 31 December 2020 Investment Fund management Development Total US$’000 US$’000 US$’000 US$’000 Segment revenue 106,893 189,278 92,160 388,331 – Intersegment sales – 288 – 288 106,893 189,566 92,160 388,619 Reconciliation: Elimination of intersegment sales – (288) – (288) Revenue from continuing operations 106,893 189,278 92,160 388,331 Operating expenses (33,150) (41,680) (119,121) (193,951) Fair value gains on investment properties 53,717 – 170,963 224,680 Changes in carrying value of financial assets and liabilities at fair value through profit or loss 5,639 – 45,324 50,963 Share of profits and losses of joint ventures and associates, net 40,041 – 65,045 105,086 Gain/(loss) on disposal of subsidiaries (724) – 5,399 4,675 Dilution of interests in investment in a joint venture and financial assets at fair value through profit or loss (398) – (2,320) (2,718) Gain/(loss) on disposal of investment properties (2,533) – 19,381 16,848 Gain on disposal of other assets – – 12,347 12,347 Dividend income 56,453 – – 56,453 Segment result 225,938 147,598 289,178 662,714 Reconciliation: Depreciation and amortisation (17,141) Exchange loss (5,425) Interest income 4,082 Finance costs (147,414) Equity-settled share option expense (14,082) Other unallocated gains 2,453 Corporate and other unallocated expenses (74,483) Profit before tax from continuing operations 410,704 Other segment information: Depreciation and amortisation (17,141) Capital expenditure* 488,561 Investments in joint ventures and associates 1,082,290 * Capital expenditure consists of additions to property, plant and equipment, investment properties and intangible assets including assets from the acquisition of subsidiaries. R E A C H I N G N E W H E I G H T S 170
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