Notes to the Financial Statements For the financial year ended 31 December 2024 7 ASSOCIATES (continued) The following summarises the financial information of the Group’s material associates based on their respective consolidated financial statements prepared in accordance with SFRS(I), modified for fair value adjustments on acquisition and differences in the Group’s accounting policies. The table also includes summarised aggregate financial information for the Group’s interest in other individually immaterial associates, based on the amounts reported in the Group’s consolidated financial statements. CICT CLAR Other individually immaterial associates Total $’M $’M $’M $’M 31 December 2024 Revenue1 1,586 1,523 Profit after tax 942 764 Other comprehensive income (9) (17) Total comprehensive income 933 747 Attributable to: – Associate’s NCI 7 – – Associate’s shareholders 926 747 933 747 1 Relates to rental and related income from investment properties. Current assets 243 350 Non-current assets 25,270 17,919 Current liabilities (1,511) (1,521) Non-current liabilities (8,280) (6,440) Net assets 15,722 10,308 Attributable to: – Associate’s NCI 198 300 – Associate’s shareholders 15,524 10,008 Carrying amount of interest in associate at beginning of the year 3,276 2,248 Group’s share of: – Profit 225 134 88 447 – Other comprehensive income (2) (3) (12) (17) – Total comprehensive income 223 131 76 430 Dividends received (205) (115) Additions 327 17 Translation and other adjustments (5) (9) Carrying amount of interest in associate at end of the year 3,616 2,272 5,801 11,689 Fair value of effective ownership interest (if listed)^ 3,287 1,991 ^ Based on the quoted market price as at 31 December 2024. 128 CapitaLand Investment Limited Notes to the Financial Statements For the financial year ended 31 December 2024 7 ASSOCIATES (continued) CICT CLAR Other individually immaterial associates Total $’M $’M $’M $’M 31 December 2023 Revenue1 1,560 1,480 Profit after tax 869 178 Other comprehensive income (74) (67) Total comprehensive income 795 111 Attributable to: – Associate’s NCI 6 – – Associate’s shareholders 789 111 795 111 1 Relates to rental and related income from investment properties. Current assets 195 377 Non-current assets 24,545 17,893 Current liabilities (1,454) (1,603) Non-current liabilities (8,884) (6,446) Net assets 14,402 10,221 Attributable to: – Associate’s NCI 202 299 – Associate’s shareholders 14,200 9,922 Carrying amount of interest in associate at beginning of the year 3,217 2,339 Group’s share of: – Profit 201 34 (29) 206 – Other comprehensive income (17) (12) (106) (135) – Total comprehensive income 184 22 (135) 71 Dividends received (163) (119) Additions 43 17 Translation and other adjustments (5) (11) Carrying amount of interest in associate at end of the year 3,276 2,248 4,707 10,231 Fair value of effective ownership interest (if listed)^ 3,170 2,329 ^ Based on the quoted market price as at 31 December 2023. 129 Annual Report 2024
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