Annual Report 2022

238 Transport International Holdings Limited 2022 Annual Report NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 34 Material related party transactions (continued) (c) Applicability of the Listing Rules relating to connected transactions (continued) The related party transaction as described in notes 34(a)(iv), 34(a)(vii), 34(a)(viii) and 34(a)(ix) above constitute continuing connected transaction of the Company as defined in Chapter 14A of the Listing Rules. However, they are exempt from the disclosure requirements in Chapter 14A of the Listing Rules pursuant to Rule 14A.76. The related party transaction as described in notes 34(a)(v) and 34(a)(vi) above constitute connected transactions of the Company as defined in Chapter 14A of the Listing Rules. The relevant reporting requirements pursuant to Chapter 14A of the Listing Rules have been complied with by including disclosures in the Company’s annual report published immediately following the entering into of such transactions. 35 Company-level statement of financial position 2022 2021 Note $’000 $’000 Non-current assets Investments in subsidiaries 1,200,237 1,199,043 Property, plant and equipment 26 31 Deferred tax assets 535 535 1,200,798 1,199,609 Current assets Deposits and prepayments 1,574 1,722 Amounts due from subsidiaries 10,777,001 10,593,037 Bank deposits and cash 15,203 3,901 10,793,778 10,598,660 Current liabilities Accounts payable and accruals 24,966 13,765 Amounts due to subsidiaries 7,869,988 7,799,170 7,894,954 7,812,935 Net current assets 2,898,824 2,785,725 NET ASSETS 4,099,622 3,985,334 CAPITAL AND RESERVES 30(a) Share capital 474,940 465,469 Reserves 3,624,682 3,519,865 TOTAL EQUITY 4,099,622 3,985,334 Approved and authorised for issue by the Board of Directors on 23 March 2023 Norman LEUNG Nai Pang Chairman Roger LEE Chak Cheong Managing Director