Group ECW 2024 2023 2024 2023 S$’000 S$’000 S$’000 S$’000 OPERATIONS Beginning of the year 300,841 777,277 (9,121) (13,772) Total return for the year (64,861) (449,274) 12,826 26,363 Distribution to Unitholders – (21,712) – (21,712) Transfer to general reserves (3,915) (5,450) – – End of the year 232,065 300,841 3,705 (9,121) GENERAL RESERVES* Beginning of the year 38,605 33,155 – – Transfer from operations 3,915 5,450 – – End of the year 42,520 38,605 – – UNITHOLDERS’ CONTRIBUTION Beginning of the year (77,627) (77,627) (77,627) (77,627) End of the year (77,627) (77,627) (77,627) (77,627) FOREIGN CURRENCY TRANSLATION RESERVE Beginning of the year (166,958) (125,811) – – Translation differences relating to financial statements of foreign subsidiaries 2,063 (41,147) – – End of the year (164,895) (166,958) – – Total Unitholders’ funds at end of the year 32,063 94,861 (73,922) (86,748) * ECW’s subsidiaries incorporated in the People Republic of China are required to transfer 10% of its profits after taxation, as determined under the accounting principles and relevant financial regulations of China, to the general reserve until the reserve balance reaches 50% of registered capital. The transfer to this reserve must be made before distribution of dividends to the shareholders. This general reserve can be used to make good previous years’ losses, if any, and may be converted to registered capital in proportion to the existing interests of the shareholders, provided that the balance after such conversion is not less than 25% of the registered capital. The accompanying notes form an integral part of these financial statements. EC WORLD REIT 78 STATEMENTS OF MOVEMENTS IN UNITHOLDERS’ FUNDS – GROUP AND ECW FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
RkJQdWJsaXNoZXIy NTkwNzg=