Annual Report 2022

2022 Annual Report Transport International Holdings Limited 101 Current Assets and Current Liabilities The Group’s total current assets as at 31 December 2022 amounted to HK$3,545.7 million (2021: HK$2,720.0 million), mainly comprising liquid funds of HK$2,242.5 million (2021: HK$1,237.5 million) and accounts receivable of HK$957.2 million (2021: HK$605.1 million). The Group’s liquid funds as at 31 December 2022 were mainly denominated in Hong Kong dollars. Total current liabilities as at 31 December 2022 amounted to HK$3,311.8 million (2021: HK$2,759.5 million), which mainly included accounts payable and accruals, and the current portion of bank loans. Bank Loans As at 31 December 2022, bank loans, all unsecured, amounted to HK$4,967.5 million (2021: HK$3,132.5 million). The maturity profile of the bank loans of the Group as at 31 December 2022 and 31 December 2021 is shown in the chart below: Debt Maturity Profile at 31 December 2022 2021 2022 HK$1,675 million (34%) HK$300 million (6%) HK$2,993 million (60%) 2021 HK$994 million (32%) HK$1,174 million (37%) HK$965 million (31%) Within 1 year Between 1 and 2 years Between 2 and 5 years As at 31 December 2022, the Group had undrawn banking facilities totalling HK$620.0 million (2021: HK$1,555.0 million). Capital Commitments The Group’s capital commitments as at 31 December 2022 amounted to HK$725.7 million (2021: HK$1,605.2 million). These commitments were mainly in respect of the development of The Millennity and the purchase of buses and other motor vehicles, which are to be financed by bank borrowings and from the Group’s internal resources. A summary of the capital commitments is set out below: 2022 2021 HK$ million HK$ million Development of The Millennity 380.0 950.9 Purchase of buses and other motor vehicles 234.2 552.3 Purchase of other properties, plant and equipment 111.5 102.0 Total 725.7 1,605.2 As at 31 December 2022, the Group had 172 (2021: 200) new buses on order for delivery in 2023.