Group 2024 2023 Note S$’000 S$’000 Gross revenue 4 92,208 107,770 Property expenses 5 (11,009) (8,569) Net property income 81,199 99,201 Finance income (863) 1,662 Finance costs 6 (49,037) (46,615) Manager’s base fees (1,951) (3,658) Trustee’s fees (184) (294) Exchange differences (3,690) 3,047 Other trust expenses 7 (2,646) (2,072) Net income 22,828 51,271 Net change in fair value of investment properties 15 (95,699) (606,750) Net change in fair value of financial derivatives 1,879 (2,649) Total loss for the year before income tax (70,992) (558,128) Income tax credit 8 6,131 108,854 Total loss for the year after income tax before distribution (64,861) (449,274) Earnings per unit (cents) – Basic and diluted 9 (8.01) (55.48) The accompanying notes form an integral part of these financial statements. ANNUAL REPORT 2024 73 CONSOLIDATED STATEMENT OF TOTAL RETURN FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
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