HUTCHISON PORT HOLDINGS TRUST 144 NOTES TO THE FINANCIAL STATEMENTS 1 General information Hutchison Port Holdings Trust (“Trust” or “HPH Trust”) is a business trust constituted by a deed of trust dated 25 February 2011 (as amended) (the “Trust Deed”) and registered with the Monetary Authority of Singapore. HPH Trust is principally regulated by the Business Trusts Act 2004 of Singapore and Securities and Futures Act 2001 of Singapore. Under the Trust Deed, Hutchison Port Holdings Management Pte. Limited (the “Trustee-Manager”), has declared that it will hold all its assets (including businesses) acquired on trust for the unitholders as the TrusteeManager of HPH Trust. The registered address of the Trustee-Manager is at 1 Harbourfront Avenue, #14-07, Keppel Bay Tower, Singapore 098632. HPH Trust was listed on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 18 March 2011. HPH Trust is established with the principal investment mandate of investing in, developing, operating and managing deep-water container ports in the Guangdong Province of China, Hong Kong and Macau. HPH Trust may also invest in other types of port assets including river ports, which are complementary to the deep-water container ports owned by HPH Trust, as well as undertake certain port ancillary services including, but not limited to, trucking, feedering, freight-forwarding, supply chain management, warehousing and distribution services. 2 Basis of preparation and material accounting policy information The consolidated fi nancial statements of HPH Trust and its subsidiaries (together the “Group”), have been prepared in accordance with HKFRS Accounting Standards (“HKFRS”) as issued by the Hong Kong Institute of Certifi ed Public Accountants (“HKICPA”). The fi nancial statements have been prepared under the historical cost convention except for defi ned benefi t plan pension assets, investments and derivative fi nancial instruments which are stated at fair value, and assets classifi ed as held for sale are generally measured at the lower of carrying amount and fair value less cost to sell, as explained in the material accounting policies set out in Note 2. There is no material diff erence in preparing the fi nancial statements using HKFRS and International Financial Reporting Standards (“IFRS”). No material adjustments are required to restate the fi nancial statements prepared under HKFRS to comply with IFRS. At 31 December 2025, the Group recorded net current liabilities of HK$3,426.9 million, mainly resulting from two guaranteed notes of US$0.5 billion each (approximately a total of HK$7.8 billion), which will mature in March and September 2026. Management is confi dent to complete the refi nancing arrangement before the expiry of these existing debts. Based on the Group’s history in obtaining external fi nancing, its operating performance and its expected future working capital requirements, management believes that there are suffi cient fi nancial resources available to the Group to meet its liabilities as and when they fall due. Accordingly, these consolidated fi nancial statements have been prepared on a going concern basis. The preparation of financial statements in conformity with HKFRS requires management to exercise its judgements in the process of applying the accounting policies of the Group. It also requires the use of certain critical accounting estimates and assumptions. The areas involving a higher degree of judgements or complexity, or areas where assumptions and estimates are signifi cant to the fi nancial statements, are disclosed in Note 3. Adoption of amendments to existing standards The Group has adopted all of the amendments issued by the HKICPA that are mandatory for annual period beginning 1 January 2025. The eff ect of the adoption of these amendments was not material to the Group’s results or fi nancial position. Amendments to HKAS 21 and HKFRS 1 Lack of Exchangeability
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