Annual Report 2023

117 2023 Annual Report Transport International Holdings Limited Intangible Assets and Goodwill As at 31 December 2023, the Group’s intangible assets and goodwill amounted to HK$529.1 million (2022: HK$529.1 million) and HK$84.1 million (2022: HK$84.1 million) respectively. The intangible assets mainly comprise passenger service licences and transport operating rights of the Group’s non-franchised transport operations. Current Assets and Current Liabilities The Group’s total current assets as at 31 December 2023 amounted to HK$3,299.2 million (2022: HK$3,545.7 million), mainly comprising liquid funds of HK$1,655.3 million (2022: HK$2,242.5 million) and accounts receivable of HK$1,025.1 million (2022: HK$957.2 million). The Group’s liquid funds as at 31 December 2023 were mainly denominated in Hong Kong dollars. Total current liabilities as at 31 December 2023 amounted to HK$3,169.0 million (2022: HK$3,311.8 million), which mainly included accounts payable and accruals, and the current portion of bank loans. Bank Loans As at 31 December 2023, bank loans, all unsecured, amounted to HK$4,639.6 million (2022: HK$4,967.5 million). The maturity profile of the bank loans of the Group as at 31 December 2023 and 31 December 2022 is shown in the chart below: Debt Maturity Profile at 31 December 2023 2022 2023 HK$1,262 million (27%) HK$13 million (0%) HK$3,365 million (73%) 2022 HK$1,675 million (34%) HK$300 million (6%) HK$2,993 million (60%) Within 1 year Between 1 and 2 years Between 2 and 5 years As at 31 December 2023, the Group had undrawn banking facilities totalling HK$2,450.0 million (2022: HK$620.0 million). Capital Commitments The Group’s capital commitments as at 31 December 2023 amounted to HK$343.2 million (2022: HK$725.7 million). These commitments were mainly in respect of the development of The Millennity and the purchase of buses and other motor vehicles, which are to be financed by bank borrowings and from the Group’s internal resources. A summary of the capital commitments is set out below: 2023 2022 HK$ million HK$ million Development of The Millennity 37.6 380.0 Purchase of buses and other motor vehicles 183.9 234.2 Purchase of other properties, plant and equipment 121.7 111.5 Total 343.2 725.7 As at 31 December 2023, the Group had 77 (2022: 172) new buses on order for delivery in 2024.