17 OTHER TRUST EXPENSES Group 2024 2023 US$’000 US$’000 Audit fees paid/payable to: – Auditors of the Group 408 426 Non-audit fees paid/payable to: – Auditors of the Group1 − − Valuation fees 47 105 Tax and legal expenses 889 1,006 Investor relations and related expenses 275 230 Foreign exchange losses/(gains) 71 (13) Other expenses 856 1,216 2,546 2,970 1 Non-audit fees of US$29,109 (2023: US$88,775) paid/payable to Auditors of the Group, have been included as part of the loss on disposal of investment properties. 18 FINANCE EXPENSES Group 2024 2023 US$’000 US$’000 Interest expense on loans and borrowings 39,643 43,277 Fee in relation to Master Restructuring Agreement1 2,280 − Amortisation of upfront debt-related transaction costs 1,977 2,121 Exit premium on Sponsor-Lender Loan 3,721 99 Dividends on preferred units 151 171 Redemption of preferred units 33 79 Commitment and financing fees 294 273 48,099 46,020 1 The Group has recognised a fee of US$2.3 million as at 31 December 2024 as the 2024 Net Proceeds Target under the MRA had not been achieved. This was computed based on the higher of (A) a flat fee of 1% on the shortfall amount between the 2024 Net Proceeds Target and the cumulative net sale proceeds actually received, and (B) an additional interest margin payment, at a rate of 0.75% per annum on the outstanding amounts under the existing facilities as at 31 December 2024 for a period of 180 days. ANNUAL REPORT 2024 | 179 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
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