NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2025 5 TRADE AND OTHER RECEIVABLES (CONT’D) Impairment losses The ageing of trade receivables at the end of the reporting date is as follows: Gross Impairment 2025 2024 2025 2024 US$’000 US$’000 US$’000 US$’000 Group Past due 0 to 1 month 296 1,365 51 18 Past due 1 to 3 months 140 851 48 18 Past due more than 3 months 2,223 2,488 1,937 1,713 2,659 4,704 2,036 1,749 The movement in allowance for impairment losses recognised in respect of trade receivables during the year is as follows: Group 2025 2024 US$’000 US$’000 As at 1 January 1,749 1,902 Net provision for ECLs 291 594 Amount written off (4) (747) As at 31 December 2,036 1,749 Receivables not impaired The Group has trade receivables amounting to US$0.6 million (2024: US$3.0 million) that are not impaired at the end of the reporting period. The Manager believes that no provision of ECLs is necessary in respect of the remaining trade receivables as majority of the balances are not past due or relate to creditworthy debtors and counterparties with good payment record. The Group’s and Trust’s exposure to credit risk related to trade and other receivables are set out in Note 21. 6 INVESTMENT PROPERTIES Group 2025 2024 US$’000 US$’000 Consolidated Statement of Financial Position As at 1 January 1,093,500 1,411,800 Capital expenditure capitalised 24,733 33,450 Disposal of investment properties (125,366) (111,129) Fair value changes in investment properties (91,464) (196,921) Reclassification to asset held for sale (85,703) (43,700) As at 31 December 815,700 1,093,500 Consolidated Statement of Comprehensive Income Fair value changes in investment properties (91,464) (196,921) Fair value changes in asset held for sale (2,121) − Net effect of amortisation and straight-lining 10,070 8,985 Net fair value changes recognised in the statement of comprehensive income (83,515) (187,936) Investment properties comprise commercial office properties which are leased to external tenants. / 121 / MANULIFE US REIT
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