Notes to the Financial Statements For the financial year ended 31 December 2025 6. INVESTMENT IN A JOINT VENTURE Group Trust 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Unquoted equity investment At 1 January 39,806 41,233 39,806 41,233 Impairment losses – – (541) (1,427) Share of results 3,001 2,842 – – Distribution received (3,542) (4,269) – – At 31 December 39,265 39,806 39,265 39,806 During the year, impairment losses of $541,000 (2024: $1,427,000) were made against the investment in joint venture. This amount represents the decrease in the Trust’s share of net assets of PTC Logistics Hub LLP (“PTC LLP”), predominantly due to the fair value loss on investment property recognised by PTC LLP during the year. Summarised financial information of the joint venture, based on its FRS financial statements, and reconciliation with the carrying amount of the investment in the consolidated financial statements are set out below: Summarised statement of financial position of PTC LLP: Group 2025 2024 $’000 $’000 Current assets, including cash and bank balances of $4,254,224 (2024: $4,238,146) 4,296 4,289 Non-current assets, including investment property of $220,000,000 (2024: $225,200,000) 234,587 239,763 Current liabilities, including short-term borrowings of $4,803,644 (2024: $146,003,791) (7,386) (148,697) Non-current liabilities, including long-term borrowings of $137,263,389 (2024: Nil) (151,365) (14,119) Net assets 80,132 81,236 Proportion of the Group’s ownership 49% 49% Group’s share in net assets 39,265 39,806 Carrying amount of the Group’s investment 39,265 39,806 178 ESR-REIT ANNUAL REPORT 2025
RkJQdWJsaXNoZXIy NTM2MDQ5