2023 Q4 Form 20-F Financial Statement
#000121390024096530 Filed on November 12, 2024
Income Statement
| Concept | 2023 Q4 | 2023 | 2022 Q4 |
|---|---|---|---|
| Revenue | $105.7M | ||
| YoY Change | 29.62% | ||
| Cost Of Revenue | $22.61M | ||
| YoY Change | -2.65% | ||
| Gross Profit | $81.94M | ||
| YoY Change | 40.53% | ||
| Gross Profit Margin | 77.53% | ||
| Selling, General & Admin | $54.08M | ||
| YoY Change | 245.47% | ||
| % of Gross Profit | 65.99% | ||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $12.66M | ||
| YoY Change | -6.54% | ||
| % of Gross Profit | 15.45% | ||
| Operating Expenses | $54.08M | ||
| YoY Change | 249.5% | ||
| Operating Profit | $27.86M | ||
| YoY Change | -34.95% | ||
| Interest Expense | -$20.64M | ||
| YoY Change | 45.87% | ||
| % of Operating Profit | -74.06% | ||
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | -$48.33M | ||
| YoY Change | -277.49% | ||
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$48.33M | ||
| YoY Change | -277.49% | ||
| Net Earnings / Revenue | -45.72% | ||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$0.44 | ||
| COMMON SHARES | |||
| Basic Shares Outstanding | 109.6M shares | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2023 Q4 | 2023 | 2022 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | |||
| YoY Change | |||
| Cash & Equivalents | |||
| Short-Term Investments | |||
| Other Short-Term Assets | |||
| YoY Change | |||
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | |||
| YoY Change | |||
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | |||
| YoY Change | |||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | |||
| YoY Change | |||
| TOTAL ASSETS | |||
| Total Short-Term Assets | |||
| Total Long-Term Assets | |||
| Total Assets | $486.0M | $473.6M | |
| YoY Change | 2.61% | ||
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | |||
| YoY Change | |||
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | |||
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | |||
| YoY Change | |||
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | |||
| YoY Change | |||
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | |||
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | |||
| Total Long-Term Liabilities | |||
| Total Liabilities | |||
| YoY Change | |||
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | |||
| YoY Change | |||
| Common Stock | |||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | |||
| YoY Change | |||
| Total Liabilities & Shareholders Equity | |||
| YoY Change |
Cashflow Statement
| Concept | 2023 Q4 | 2023 | 2022 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$48.33M | ||
| YoY Change | -277.49% | ||
| Depreciation, Depletion And Amortization | $12.66M | ||
| YoY Change | -6.54% | ||
| Cash From Operating Activities | $58.57M | ||
| YoY Change | 32.65% | ||
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $13.28M | ||
| YoY Change | 7.82% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$4.699M | ||
| YoY Change | -64.17% | ||
| Cash From Investing Activities | -$17.98M | ||
| YoY Change | -29.3% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -33.64M | ||
| YoY Change | 74.87% | ||
| NET CHANGE | |||
| Cash From Operating Activities | 58.57M | ||
| Cash From Investing Activities | -17.98M | ||
| Cash From Financing Activities | -33.64M | ||
| Net Change In Cash | 6.956M | ||
| YoY Change | -1460.16% | ||
| FREE CASH FLOW | |||
| Cash From Operating Activities | $58.57M | ||
| Capital Expenditures | $13.28M | ||
| Free Cash Flow | $45.29M | ||
| YoY Change | 42.26% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
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20-F | |
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2023-12-31 | |
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--12-31 | |
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2023 | |
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E9 | |
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c/o Brooge Petroleum and Gas Investment Company FZE | |
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50170 | |
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Fujairah | |
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AE | |
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109587853 | shares |
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Bansal & Co LLP | |
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New Delhi, India | |
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|
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|
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Payment Of Employees End Of Services Benefits
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Payment Of Employees End Of Services Benefits
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|
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Cash Flows From Used In Operating Activities
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AmountdepositedWithdrawnInRestrictedBankAccount
|
4698795 | usd |
| CY2022 | brog |
Amountdeposited Withdrawn In Restricted Bank Account
AmountdepositedWithdrawnInRestrictedBankAccount
|
1568377 | usd |
| CY2023 | ifrs-full |
Purchase Of Property Plant And Equipment Intangible Assets Other Than Goodwill Investment Property And Other Noncurrent Assets
PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets
|
13278355 | usd |
| CY2022 | ifrs-full |
Purchase Of Property Plant And Equipment Intangible Assets Other Than Goodwill Investment Property And Other Noncurrent Assets
PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets
|
19193314 | usd |
| CY2023 | ifrs-full |
Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
|
-17977150 | usd |
| CY2022 | ifrs-full |
Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
|
-20761691 | usd |
| CY2022 | ifrs-full |
Proceeds From Borrowings Classified As Financing Activities
ProceedsFromBorrowingsClassifiedAsFinancingActivities
|
3105092 | usd |
| CY2023 | ifrs-full |
Repayments Of Borrowings Classified As Financing Activities
RepaymentsOfBorrowingsClassifiedAsFinancingActivities
|
14396134 | usd |
| CY2022 | ifrs-full |
Repayments Of Borrowings Classified As Financing Activities
RepaymentsOfBorrowingsClassifiedAsFinancingActivities
|
14926355 | usd |
| CY2023 | ifrs-full |
Interest Paid Classified As Financing Activities
InterestPaidClassifiedAsFinancingActivities
|
15102898 | usd |
| CY2022 | ifrs-full |
Interest Paid Classified As Financing Activities
InterestPaidClassifiedAsFinancingActivities
|
16223888 | usd |
| CY2023 | ifrs-full |
Payments Of Lease Liabilities Classified As Financing Activities
PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities
|
4137362 | usd |
| CY2022 | ifrs-full |
Payments Of Lease Liabilities Classified As Financing Activities
PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities
|
9305777 | usd |
| CY2022 | brog |
Movement In Shareholders Account
MovementInShareholdersAccount
|
626029 | usd |
| CY2023 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
-33636394 | usd |
| CY2022 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
-37976957 | usd |
| CY2023 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes
IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges
|
6955726 | usd |
| CY2022 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes
IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges
|
-689387 | usd |
| CY2022Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
762929 | usd |
| CY2021Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
1452316 | usd |
| CY2023Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
7718655 | usd |
| CY2022Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
762929 | usd |
| CY2023 | ifrs-full |
Disclosure Of General Information About Financial Statements Explanatory
DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">1</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Legal Status, Management and Business Activity</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements comprise of the financial statements of Brooge Energy Limited (“Company”) and its subsidiaries on a line-by-line basis. The Company and its subsidiaries are collectively referred to as the “Group”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The details of the Group are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>a. Brooge Energy Limited (“Company”)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company, is a Company with limited liability registered as an exempted company in the Cayman Islands.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The registered office of the Company is at P.O Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The Company’s principal executive office is located at P.O Box 50170, Al-Sodah, Khorr Fakkan Road, Fujairah, United Arab Emirates (“UAE”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company changed its name from Brooge Holdings Limited to Brooge Energy Limited on April 7, 2020.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The subsidiaries of the Company are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>i. Brooge Petroleum and Gas Investment Company FZE (“BPGIC FZE”)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC FZE is a Free Zone Establishment formed and registered in the Fujairah Free Zone Authority under registration number 13-FZE-1117.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC FZE is a 100% subsidiary of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC FZE had a one subsidiary Brooge Petroleum and Gas Management Company Limited (“BPGMC Limited”). BPGMC Limited was a company with limited liability registered in Dubai International Financial Centre (DIFC) with commercial license number CL3852.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 21, 2022, BPGMC Limited had been officially dissolved (voluntary winding up) and ceased to exist as a DIFC entity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>ii. Brooge Petroleum and Gas Investment Company Phase III FZE (“BPGIC Phase III FZE”)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC Phase III FZE is a Free Zone Establishment formed and registered in the Fujairah Free Zone Authority under registration number 20-FZE-1972.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC Phase III FZE is a 100% subsidiary of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC Phase III FZE has a one subsidiary BPGIC Phase 3 Limited (“BPGIC Phase III Ltd”). BPGIC Phase 3 Limited is a Free Zone Company with limited liability formed in accordance with the provisions of Jebel Ali Free Zone Authority Offshore Companies Regulations 2018. The registration number of BPGIC Phase 3 Limited is 226933.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>iii. BPGIC International</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC International formerly known as Twelve Seas, is a company with limited liability registered as an exempted company in the Cayman Islands.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BPGIC International is a 100% subsidiary of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>iv. Brooge Renewable Energy Limited</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brooge Renewable Energy Limited is a company with limited liability registered as an exempted company in the Cayman Islands and registered on July 1, 2021. The registered office of the Company is at P.O Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brooge Renewable Energy Limited is a 100% subsidiary of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The service provided by the Group is oil storage and related services at the Port of Fujairah in the Emirate of Fujairah, UAE. The Group currently operates phase I and phase II, comprising 22 tanks with a total capacity of 1,001,388 cubic meters (“cbm”), fully operational for provision of storage and other ancillary processes of crude and clean oil. The Group has commenced early preparation work for its phase III project where it intends to construct additional storage and refinery facilities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company was incorporated on April 12, 2019, for the sole purpose of consummating the business combination described further below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 15, 2019, BPGIC FZE entered into a business combination agreement with Twelve Seas Investment Company (“Twelve Seas”), a company listed on National Association of Securities Dealers Automated Quotations (“NASDAQ”), the Company and BPGIC FZE’s shareholders. On May 10, 2019, BPGIC PLC became party to the business combination agreement by execution of a joinder thereto.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The business combination was accounted for as a reverse acquisition in accordance with the International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board (“IASB”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under this method of accounting, Brooge Energy and Twelve Seas are treated as the “acquired” company. This determination was primarily based on BPGIC FZE comprising the ongoing operations of the combined company, BPGIC FZE’s senior management comprising the senior management of the combined company, and BPGIC FZE’s stockholders having a majority of the voting power of the combined company. For accounting purposes, BPGIC FZE is deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of BPGIC FZE. Accordingly, the consolidated assets, liabilities and results of operations of BPGIC FZE are the historical financial statements of the combined company, and Brooge Energy and Twelve Sea’s assets, liabilities and results of operations are consolidated with BPGIC FZE beginning on the acquisition date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the above transaction, the Company became the ultimate parent of BPGIC FZE and Twelve Seas on December 20, 2019, being the acquisition date. The Company’s common stock and warrants are traded on the NASDAQ Capital Market under the ticker symbols BROG and BROGW, respectively. Upon the closing of business combination, Twelve Seas changed its name to “BPGIC International”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements are prepared as a continuation of the financial statements of BPGIC FZE, the acquirer, and retroactively adjusted to reflect the legal capital of the legal parent/acquiree (Brooge Energy Limited).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s majority shareholder is BPGIC Holdings Limited (“Shareholder”). The ultimate controlling party of the Company is a group of individuals consisting of Mr. Salman Al Ameri, His Highness Sheikh Mohammad Bin Khalifa Bin Zayed Al Nahyan, and Ms. Hind Mohammed Muktar Ahmed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The audited consolidated financial statements were authorised for issue by the Board of Directors.</p> | |
| CY2023 | ifrs-full |
Disclosure Of Basis Of Preparation Of Financial Statements Explanatory
DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">2</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Basis of Preparation of Consolidated Financial Statements</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These consolidated financial statements are prepared on a going concern basis and in compliance with International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements have been prepared under the historical cost basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These consolidated financial statements are presented in United States Dollars ("USD") which is the functional and presentation currency of the Group. All financial information presented in USD has been rounded to the whole number, unless otherwise stated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements are prepared under the historical cost convention, except for re-measurement at fair value of derivative financial instruments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis of Consolidation</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at December 31, 2023. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee)</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Exposure, or rights, to variable returns from its involvement with the investee</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The ability to use its power over the investee to affect its returns</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The contractual arrangement(s) with the other vote holders of the investee</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Rights arising from other contractual arrangements</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The Group’s voting rights and potential voting rights</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognised in consolidated statement of comprehensive income. Any investment retained is recognised at fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Going Concern</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2023, the Group incurred a loss of USD 48,328,195 but generated positive operating cash flows of USD 58,569,270. Furthermore, the Group is required to make a single bullet repayment of USD 144,000,000 in September 2025, as stipulated in the terms of the Bond (Note 15).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, the Group was in breach of certain covenant requirements as per the Bond Terms and these breaches do not constitute payment defaults as the Group has always met the coupon and instalment payments as per the Bond Terms. Even though the lender did not declare an event of default under the bond agreement, these breaches constituted events of default and could have resulted in the lender requiring immediate repayment of the bonds. Accordingly, the Group has classified its debt balance of USD 160,100,000 as a current liability. Further, as of the year end the Group’s current liabilities exceeded its current assets by USD 320,389,925. All of the above represents uncertainty that casts doubt upon the Group’s ability to continue as a going concern, however if the Group is able to obtain a waiver for its noncompliance under the Bond Terms and a waiver for other payables in current liabilities the Group is expected to have a significant reduction in its current liabilities which would mitigate the doubt on the Group’s ability to continue as a going concern. The Group is actively collaborating with GulfNav and its advisors to finalize the definitive sale and purchase agreement. The consideration for the shares will consist of a mix of cash and shares, including mandatory convertible bonds that will convert into shares. The Group is confident that future cash inflows will be adequate to meet its bond repayment obligations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These consolidated financial statements are prepared on a going concern basis and in compliance with IFRS issued by IASB. The validity of this assumption depends upon the continued financial support to the Group by its Shareholders. The consolidated financial statements do not include any adjustment that should result from a failure to obtain the financial support. The Management has no intention to discontinue the operations of the Group. The assets and liabilities are recorded on the basis that the Group will be able to realise its assets and discharge its liabilities in the normal course of business. This position does not impair the financial position of the Group.</p> | |
| CY2023 | ifrs-full |
Profit Loss
ProfitLoss
|
-48328195 | usd |
| CY2023 | ifrs-full |
Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
|
58569270 | usd |
| CY2023 | brog |
Repayments Of Single Bullet
RepaymentsOfSingleBullet
|
144000000 | usd |
| CY2023Q4 | ifrs-full |
Other Current Liabilities
OtherCurrentLiabilities
|
160100000 | usd |
| CY2023Q4 | ifrs-full |
Other Current Assets
OtherCurrentAssets
|
320389925 | usd |
| CY2023 | ifrs-full |
Disclosure Of Changes In Accounting Policies Explanatory
DisclosureOfChangesInAccountingPoliciesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">3</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Changes in Accounting Policies and Disclosures</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>New and Amended Standards and Interpretations</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after January 1, 2023. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">IFRS 17 - Insurance Contracts;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IAS 8 - Definition of Accounting Estimates;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IAS 12 - International Tax Reform.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The adoption of above standards and amendments did not have any significant impact on the consolidated financial statements of the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>New Standards and Interpretations Not Yet Effective</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group intends to adopt the following standards, if applicable, which are effective on or after January 1, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IFRS 16 - Lease Liability in a Sale and Leaseback;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IAS 1 - Classification of Liabilities as Current or Non-current;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Amendments to IAS 7 and IFRS 7 - Supplier Finance Arrangements.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group does not expect these new standards, interpretations and amendments to have any significant impact on the consolidated financial statements.</p> | |
| CY2023 | ifrs-full |
Disclosure Of Accounting Judgements And Estimates Explanatory
DisclosureOfAccountingJudgementsAndEstimatesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">4</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Significant Accounting Judgements, Estimates and Assumptions</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the Group’s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of expenses, assets and liabilities, and the disclosure of contingent liabilities, at the reporting date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Useful Life and Depreciation of Property, Plant and Equipment</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group's management determines the estimated useful lives of its property, plant and equipment for calculating depreciation. This estimate is determined after considering the expected usage of the asset or physical wear and tear and the impact of expected residual value. Management reviews the useful lives annually and the future depreciation charge would be adjusted where management believes that the useful lives differ from previous estimates. The depreciation period of the right-of-use asset has been determined to be over the lease term on the basis that the land is expected to be used for the whole period of the lease considering the existing assets and future expansion on the land.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Asset Retirement Obligation</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the land lease agreement between Fujairah Municipality (Fujairah Oil Industry Zone) and the Group, the Group has a legal obligation to remove the plant at the end of its lease term. The Group initially records a provision for asset retirement obligations at the best estimate of the present value of the expenditure required to settle the obligation at the time a legal (or constructive) obligation is incurred, if the liability can be reliably estimated. When the provision is initially recorded, the carrying amount of the related asset is increased by the amount of the liability. Provisions are adjusted at each balance sheet date to reflect the current best estimate. The unwinding of the discount is recognised as finance cost. The Group’s operating assets generally consist of storage tanks and related facilities. These assets can be used for an extended period of time as long as they are properly maintained and / or upgraded. It is the Group’s current intent to maintain its assets and continue making improvements to those assets based on technological advances.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calculation of provision related to asset retirement obligation is most sensitive to following judgements and assumptions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Discount rate of 3% based on inflation-adjusted long-term risk-free rate; and</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Inflation rate of 0.8% used to extrapolate cash flows.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, there was no significant construction in Phase III land, which may create material restoration obligation costs in future. Management believes the amount of provision related to site restoration provision was not material.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Recoverability of Long-Term Assets</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group assesses assets or cash generating unit (“CGU”) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered to be the higher of the fair value less costs to sell and value in use. These assessments require the use of estimates and assumptions that are subject to risk and uncertainty. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset / CGU is considered to be impaired and is written down to its recoverable amount. In assessing recoverable amount the estimated future cash flows are adjusted for the risks specific to the asset group and are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Fair value less costs to sell is identified as the price that would be received to sell the asset in an orderly transaction between market participants and does not reflect the effects of factors that may be specific to the entity and not applicable to entities in general.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purpose of impairment testing assets are grouped at the lowest levels for which there are separately identifiable cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Phase 1 & 2 assets are technologically connected with single processing plant and the Group considers them as one CGU.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No indications of impairment were identified.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Classification of Warrants</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the completion of the business combination on December 20, 2019, as described in Note 1 and Note 19 the Group issued warrants. The warrants agreement requires the Group to issue a fixed number of shares for a fixed amount of cash, however it contains a clause that allows for cashless exercise (in the event that no effective registration is maintained), which may lead to the issuance of a variable number of shares. Management assessed that the maintenance of an effective registration statement is a matter not wholly within the control of the Group and as such classified the warrants as a financial liability at fair value through profit or loss.</p> | |
| CY2023Q4 | ifrs-full |
Actuarial Assumption Of Discount Rates
ActuarialAssumptionOfDiscountRates
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0.03 | pure |
| CY2023Q4 | ifrs-full |
Actuarial Assumption Of Expected Rates Of Inflation
ActuarialAssumptionOfExpectedRatesOfInflation
|
0.008 | pure |
| CY2023 | brog |
Disclosure Of Material Accounting Policies Explanatory
DisclosureOfMaterialAccountingPoliciesExplanatory
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">5</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Summary of Material Accounting Policies</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Revenue Recognition</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services or goods. Revenue is net of discounts, credit notes and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the services are rendered and do not contain material variable components. When it is probable that the future economic benefits will flow to the Group, the recognition in the statement of income is in proportion to the stage of the rendered performance as at the end of the reporting period. The Group has a right to a consideration from a customer in an amount that corresponds directly with the value to the customer of the entity's services completed to date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tank storage rentals, including minimum guaranteed throughputs, are recognized on a straight-line basis over the contractual period during which the services are rendered. Revenues from excess throughputs, heating / cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simultaneously consume and benefit from the services at the moment that these are rendered, resulting in a situation where revenue is recognized over time. The Group is acting as a principle in its contracts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Storage fees are invoiced upfront in the month preceding the month to which the storage fees relate. Handling and other services are invoiced afterwards, based on the actual usage.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Contract Liabilities</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A contract liability is recognised if a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group changed the presentation of its consolidated statement of financial position as at December 31, 2023 by renaming Advances from customer to Contract liabilities. Also, the Group presented ‘restricted bank balance’ and ‘contract liabilities’ separately in the consolidated statement of financial position. These reclassifications did not have any impact on the consolidated financial statements of the Group. The management believes that such presentation is more transparent as they reflect the nature of such amounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Expenses</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenses are recognised as incurred and reported in the consolidated statement of comprehensive income in the period to which they relate on an accrual basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Current and Non-Current Classification</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group presents assets and liabilities in the consolidated statement of financial position based on current / non-current classification.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An asset is current when it is:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Expected to be realized or intended to be sold or consumed in the normal operating cycle</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Held primarily for the purpose of trading</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Expected to be realised within twelve months after the reporting period</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All other assets are classified as non-current.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A liability is current when:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">It is expected to be settled in the normal operating cycle</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">It is held primarily for the purpose of trading</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">It is due to be settled within twelve months after the reporting period</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group classifies all other liabilities as non-current.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Property, Plant and Equipment </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant and equipment, is stated at historical costs less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the manner intended by the Management.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost of replacing or addition to an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably. The costs of day-to-day servicing of property, plant and equipment are recognised in the profit or loss as incurred. Capital work under progress is stated at cost and subsequently transferred to assets when it is available for use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation is charged to write off the cost of assets using the straight-line method as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Groups</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Buildings</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 9%; text-align: center">25</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Tanks</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Installations</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20-25</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other Equipment</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use asset - Land</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">60</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The useful lives and depreciation method are reviewed periodically to ensure that the year and method of depreciation are consistent with the pattern of economic benefits expected to flow to the Group through the use of items of property, plant and equipment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amounts are reviewed at each reporting date to assess whether they are recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount, assets are written down to their recoverable amount, being the higher of their fair value less costs to sell and their value in use.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised as profit or loss in the consolidated statement of comprehensive income.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Capital Work in Progress</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital work in progress is stated at cost, which represents costs for the design, development, procurement, construction and commissioning of the asset under development. Cost includes borrowing cost capitalised and depreciation of the right of use asset during the construction phase. When the asset is in the location and condition necessary to operate in the manner intended by management, capital work in progress is transferred to the appropriate property, plant and equipment category and depreciated in accordance with the Group’s policies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Impairment of Non-Financial Assets</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Inventories</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are valued at the lower of cost, determined on the basis of weighted average cost, and net realizable value. Costs are those expenses incurred in bringing each item to its present location and condition. Net realisable value is valued at selling prices net of selling costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories comprise of spare parts and consumables.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Borrowing Costs</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs include interest and other costs that the Group incurs in connection with the borrowing of funds.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Leases</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For a contract that is, or contains, a lease, the Group accounts for each lease component within the contract as a lease separately from non-lease components of the contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group determines the lease term as the non-cancellable period of a lease, together with both:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">a) periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">b) periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing whether a lessee is reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate a lease, the Group considers all relevant facts and circumstances that create an economic incentive for the lessee to exercise the option to extend the lease, or not to exercise the option to terminate the lease. The Group revises the lease term if there is a change in the non-cancellable period of a lease.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Company as a lessor</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leases where the Group does not transfer substantially all the risks and benefits of ownership of the asset are classified as operating leases. Initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same bases as rental income. Contingent rents are recognised as revenue in the period in which they are earned.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Company as a lessee</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For a contract that contains a lease component and one or more additional lease or non-lease components, the Group allocates the consideration in the contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The relative stand-alone price of lease and non-lease components is determined on the basis of the price the lessor, or a similar supplier, would charge an entity for that component, or a similar component, separately. If an observable stand-alone price is not readily available, the Group estimates the stand-alone price, maximising the use of observable information.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For determination of the lease term, the Group reassesses whether it is reasonably certain to exercise an extension option, or not to exercise a termination option, upon the occurrence of either a significant event or a significant change in circumstances that:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">a) is within the control of the Group; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">b) affects whether the Group is reasonably certain to exercise an option not previously included in its determination of the lease term, or not to exercise an option previously included in its determination of the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the commencement date, the Group recognises a right-of-use asset classified within property, plant and equipment and a lease liability classified separately on the consolidated statement of financial position.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Short-term leases and leases of low-value assets</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease of 12 months or less and leases of low-value assets when new. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Right-of-use assets</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right-of-use asset is initially recognised at cost comprising of:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">a) the amount of the initial measurement of the lease liability;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">b) any lease payments made at or before the commencement date, less any lease incentives received;</p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt 0; text-align: justify"> </p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">d) an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. These costs are recognised as part of the cost of the right-of-use asset when the Group incurs an obligation for these costs. The obligation for these costs is incurred either at the commencement date or as a consequence of having used the underlying asset during a particular period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After initial recognition, the Group amortises the right-of-use asset over the term of the lease. In addition the right of use asset is periodically reduced by impairment losses, if any, and adjusted for certain re-measurements of the lease liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Lease liability</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is initially recognised at the present value of the lease payments that are not paid at the commencement date. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Group uses its incremental borrowing rate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After initial recognition, the lease liability is measured by (a) increasing the carrying amount to reflect interest on the lease liability; (b) reducing the carrying amount to reflect the lease payments made; and (c) remeasuring the carrying amount to reflect any reassessment or lease modifications or to reflect revised in-substance fixed lease payments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where, (a) there is a change in the lease term as a result of the reassessment of certainty to exercise an option, or not to exercise a termination option as discussed above; or (b) there is a change in the assessment of an option to purchase the underlying asset, assessed considering the events and circumstances in the context of a purchase option, the Group remeasures the lease liabilities to reflect changes to lease payments by discounting the revised lease payments using a revised discount rate. The Group determines the revised discount rate as the interest rate implicit in the lease for the remainder of the lease term, if that rate can be readily determined, or its incremental borrowing rate at the date of reassessment, if the interest rate implicit in the lease cannot be readily determined.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where, (a) there is a change in the amounts expected to be payable under a residual value guarantee; or (b) there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments, including a change to reflect changes in market rental rates following a market rent review, the Group remeasures the lease liabilities by discounting the revised lease payments using an unchanged discount rate, unless the change in lease payments results from a change in floating interest rates. In such case, the Group uses a revised discount rate that reflects changes in the interest rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group accounts for a lease modification as a separate lease if both:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">a) the modification increases the scope of the lease by adding the right to use one or more underlying assets and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">b) the consideration for the lease increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Financial Instruments</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Financial Assets</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Initial recognition and measurement</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise to cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets of the Group include cash, cash equivalents, restricted bank balance, trade accounts receivable and other receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Subsequent measurement</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of subsequent measurement, financial assets are classified in four categories:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets measured at amortised cost;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets at fair value through OCI with recycling of cumulative gains and losses;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets at fair value through profit or loss.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Financial assets measured at amortised cost</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are carried at amortised cost if both of the following conditions are met:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The asset is held within a business model with the objective to hold assets in order to collect contractual cash flows; and</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Financial assets at fair value through profit or loss</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Derecognition</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised from the consolidated statement of financial position where:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The rights to receive cash flows from the asset have expired;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original current amount of the asset and the maximum amount of consideration that the Group could be required to repay.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Impairment of financial assets</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group recognises an allowance for expected credit loss (ECL) for all financial assets not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive. The shortfall is then discounted at an approximation to the asset’s original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For trade and other receivables, the Group has applied the standard’s simplified approach and has calculated ECLs based on lifetime expected credit losses. The Group calculates the ECL based on the Group’s historical credit loss experience, adjusted for forward-looking factors specific to the customer and the economic environment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Write-off of financial assets</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Financial Liabilities </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Initial recognition and measurement</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Subsequent measurement</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of subsequent measurement, financial liabilities are classified in two categories:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial liabilities at fair value through profit or loss;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial liabilities measured at amortised cost.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group has no financial liabilities at fair value through profit or loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Trade and accounts payables </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liabilities for trade and accounts payables are recognised at cost which is the fair value of the consideration to be paid in the future for goods and services received, whether or not billed to the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Borrowings</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All borrowings are initially recognized at the fair values less directly attributable transaction costs. After initial recognition, borrowings are subsequently measured at amortized cost using the effective interest method. Gains and losses are recognized in the consolidated statement of comprehensive income when liabilities are derecognized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Derecognition</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the consolidated statement of comprehensive income or loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Derivative Financial Instruments</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group uses derivative financial instruments, interest rate swaps, to hedge its interest risks. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any gains or losses arising from changes in the fair value of derivatives are taken directly to the consolidated statement of comprehensive income (within profit and loss) as the Group has not designated derivative financial instruments under hedging arrangements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Cash and Cash Equivalents</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents comprise of cash on hand, balances in bank accounts and short term highly liquid deposits with a maturity date of three months or less that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Offsetting of Financial Instruments</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are offset, and the net amount presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle them on a net basis or to realise the asset and settle the liability simultaneously.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Equity Instruments</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Group comprising of share capital and shareholders’ accounts are recorded at the proceeds received, net of direct issue costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Statutory Reserve</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As required by the Articles of Association of the BPGIC FZE, 10% of the profit for the year must be transferred to the Statutory reserve. The statutory reserve is not available for distribution to the shareholders. The Group has discontinued the annual transfers of 10% of the net profits of the Group as the reserve totals 50% of its paid up share capital.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Fair Values of Financial Instruments</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of financial instruments that are traded in active markets at each reporting date is determined by reference to quoted market prices or dealer price quotations (bid price for long positions and ask price for short positions), without any deduction for transaction costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of financial instruments not traded on an active market is determined by using appropriate valuation techniques. Such techniques may include the use of recent commercial transactions in the market; reference to the current fair value of another instrument, which is practically the same; analysis of discounted cash flows or other valuation techniques.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Level 2 inputs, other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Level 3 inputs are unobservable inputs for the asset or liability.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Taxes</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Value Added Tax:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenses and assets are recognized net of the amount of input tax, except:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">When the input tax is incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the input tax is recognized as part of the cost of acquisition of the asset or as part of the expense item, as applicable;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The net amount of value added tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statement of financial position, as applicable.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Input VAT and Output VAT</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Input VAT is recognized when the goods or services are supplied to the Group and the tax on which is paid / due to be paid by the Group to the Supplier.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Output VAT is recognized in respect of taxable supply of goods / services rendered by the Group on which tax is charged and due to be paid to the UAE Federal Tax Authority.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Corporate Tax in the UAE</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 9, 2022, the UAE Ministry of Finance published the full text of the law Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. This means businesses will be subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after June 1, 2023. Per the Cabinet of Ministers Decision No. 116 published on January 16, 2023, a standard rate of 9% will apply to taxable income exceeding a threshold of AED 375,000, and a rate of 0% will apply to taxable income not exceeding that threshold.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As the Group’s accounting year ends on December 31, accordingly the effective implementation date for the Group will start from January 1, 2024, to December 31, 2024, with the first return to be filed on or before September 30, 2025. The Group is currently assessing the impact of this tax.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Recognition Of Revenue
DescriptionOfAccountingPolicyForRecognitionOfRevenue
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Revenue Recognition</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services or goods. Revenue is net of discounts, credit notes and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the services are rendered and do not contain material variable components. When it is probable that the future economic benefits will flow to the Group, the recognition in the statement of income is in proportion to the stage of the rendered performance as at the end of the reporting period. The Group has a right to a consideration from a customer in an amount that corresponds directly with the value to the customer of the entity's services completed to date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tank storage rentals, including minimum guaranteed throughputs, are recognized on a straight-line basis over the contractual period during which the services are rendered. Revenues from excess throughputs, heating / cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simultaneously consume and benefit from the services at the moment that these are rendered, resulting in a situation where revenue is recognized over time. The Group is acting as a principle in its contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Storage fees are invoiced upfront in the month preceding the month to which the storage fees relate. Handling and other services are invoiced afterwards, based on the actual usage.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> | |
| CY2023 | brog |
Description Of Accounting Policy For Contracts Liabilities
DescriptionOfAccountingPolicyForContractsLiabilities
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Contract Liabilities</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A contract liability is recognised if a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group changed the presentation of its consolidated statement of financial position as at December 31, 2023 by renaming Advances from customer to Contract liabilities. Also, the Group presented ‘restricted bank balance’ and ‘contract liabilities’ separately in the consolidated statement of financial position. These reclassifications did not have any impact on the consolidated financial statements of the Group. The management believes that such presentation is more transparent as they reflect the nature of such amounts.</p> | |
| CY2023 | brog |
Description Of Accounting Policy For Expenses
DescriptionOfAccountingPolicyForExpenses
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Expenses</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenses are recognised as incurred and reported in the consolidated statement of comprehensive income in the period to which they relate on an accrual basis.</p> | |
| CY2023 | brog |
Description Of Accounting Policy For Current Versus Noncurrent Classification
DescriptionOfAccountingPolicyForCurrentVersusNoncurrentClassification
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Current and Non-Current Classification</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group presents assets and liabilities in the consolidated statement of financial position based on current / non-current classification.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An asset is current when it is:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Expected to be realized or intended to be sold or consumed in the normal operating cycle</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Held primarily for the purpose of trading</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Expected to be realised within twelve months after the reporting period</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All other assets are classified as non-current.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A liability is current when:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">It is expected to be settled in the normal operating cycle</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">It is held primarily for the purpose of trading</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">It is due to be settled within twelve months after the reporting period</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group classifies all other liabilities as non-current.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Property Plant And Equipment Explanatory
DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Property, Plant and Equipment </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant and equipment, is stated at historical costs less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the manner intended by the Management.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost of replacing or addition to an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably. The costs of day-to-day servicing of property, plant and equipment are recognised in the profit or loss as incurred. Capital work under progress is stated at cost and subsequently transferred to assets when it is available for use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation is charged to write off the cost of assets using the straight-line method as follows:</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Groups</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Buildings</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 9%; text-align: center">25</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Tanks</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Installations</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20-25</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other Equipment</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use asset - Land</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">60</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The useful lives and depreciation method are reviewed periodically to ensure that the year and method of depreciation are consistent with the pattern of economic benefits expected to flow to the Group through the use of items of property, plant and equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amounts are reviewed at each reporting date to assess whether they are recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount, assets are written down to their recoverable amount, being the higher of their fair value less costs to sell and their value in use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised as profit or loss in the consolidated statement of comprehensive income.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Depreciation Expense Explanatory
DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory
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Depreciation is charged to write off the cost of assets using the straight-line method as follows:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Groups</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Buildings</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 9%; text-align: center">25</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Tanks</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Installations</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20-25</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other Equipment</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use asset - Land</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">60</td><td style="text-align: left"> </td></tr> </table> | |
| CY2023 | brog |
Description Of Accounting Policy For Capital Work In Progress Explanatory
DescriptionOfAccountingPolicyForCapitalWorkInProgressExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Capital Work in Progress</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital work in progress is stated at cost, which represents costs for the design, development, procurement, construction and commissioning of the asset under development. Cost includes borrowing cost capitalised and depreciation of the right of use asset during the construction phase. When the asset is in the location and condition necessary to operate in the manner intended by management, capital work in progress is transferred to the appropriate property, plant and equipment category and depreciated in accordance with the Group’s policies.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Impairment Of Nonfinancial Assets Explanatory
DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Impairment of Non-Financial Assets</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Measuring Inventories
DescriptionOfAccountingPolicyForMeasuringInventories
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Inventories</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are valued at the lower of cost, determined on the basis of weighted average cost, and net realizable value. Costs are those expenses incurred in bringing each item to its present location and condition. Net realisable value is valued at selling prices net of selling costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories comprise of spare parts and consumables.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Borrowing Costs Explanatory
DescriptionOfAccountingPolicyForBorrowingCostsExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Borrowing Costs</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs include interest and other costs that the Group incurs in connection with the borrowing of funds.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Leases Explanatory
DescriptionOfAccountingPolicyForLeasesExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Leases</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For a contract that is, or contains, a lease, the Group accounts for each lease component within the contract as a lease separately from non-lease components of the contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group determines the lease term as the non-cancellable period of a lease, together with both:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">a) periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; and</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">b) periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing whether a lessee is reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate a lease, the Group considers all relevant facts and circumstances that create an economic incentive for the lessee to exercise the option to extend the lease, or not to exercise the option to terminate the lease. The Group revises the lease term if there is a change in the non-cancellable period of a lease.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Company as a lessor</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leases where the Group does not transfer substantially all the risks and benefits of ownership of the asset are classified as operating leases. Initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same bases as rental income. Contingent rents are recognised as revenue in the period in which they are earned.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Company as a lessee</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For a contract that contains a lease component and one or more additional lease or non-lease components, the Group allocates the consideration in the contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The relative stand-alone price of lease and non-lease components is determined on the basis of the price the lessor, or a similar supplier, would charge an entity for that component, or a similar component, separately. If an observable stand-alone price is not readily available, the Group estimates the stand-alone price, maximising the use of observable information.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For determination of the lease term, the Group reassesses whether it is reasonably certain to exercise an extension option, or not to exercise a termination option, upon the occurrence of either a significant event or a significant change in circumstances that:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">a) is within the control of the Group; and</p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">b) affects whether the Group is reasonably certain to exercise an option not previously included in its determination of the lease term, or not to exercise an option previously included in its determination of the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the commencement date, the Group recognises a right-of-use asset classified within property, plant and equipment and a lease liability classified separately on the consolidated statement of financial position.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Short-term leases and leases of low-value assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease of 12 months or less and leases of low-value assets when new. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Right-of-use assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right-of-use asset is initially recognised at cost comprising of:</p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">a) the amount of the initial measurement of the lease liability;</p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">b) any lease payments made at or before the commencement date, less any lease incentives received;</p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt 0; text-align: justify"> </p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">d) an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. These costs are recognised as part of the cost of the right-of-use asset when the Group incurs an obligation for these costs. The obligation for these costs is incurred either at the commencement date or as a consequence of having used the underlying asset during a particular period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After initial recognition, the Group amortises the right-of-use asset over the term of the lease. In addition the right of use asset is periodically reduced by impairment losses, if any, and adjusted for certain re-measurements of the lease liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Lease liability</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is initially recognised at the present value of the lease payments that are not paid at the commencement date. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Group uses its incremental borrowing rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After initial recognition, the lease liability is measured by (a) increasing the carrying amount to reflect interest on the lease liability; (b) reducing the carrying amount to reflect the lease payments made; and (c) remeasuring the carrying amount to reflect any reassessment or lease modifications or to reflect revised in-substance fixed lease payments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where, (a) there is a change in the lease term as a result of the reassessment of certainty to exercise an option, or not to exercise a termination option as discussed above; or (b) there is a change in the assessment of an option to purchase the underlying asset, assessed considering the events and circumstances in the context of a purchase option, the Group remeasures the lease liabilities to reflect changes to lease payments by discounting the revised lease payments using a revised discount rate. The Group determines the revised discount rate as the interest rate implicit in the lease for the remainder of the lease term, if that rate can be readily determined, or its incremental borrowing rate at the date of reassessment, if the interest rate implicit in the lease cannot be readily determined.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where, (a) there is a change in the amounts expected to be payable under a residual value guarantee; or (b) there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments, including a change to reflect changes in market rental rates following a market rent review, the Group remeasures the lease liabilities by discounting the revised lease payments using an unchanged discount rate, unless the change in lease payments results from a change in floating interest rates. In such case, the Group uses a revised discount rate that reflects changes in the interest rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group accounts for a lease modification as a separate lease if both:</p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">a) the modification increases the scope of the lease by adding the right to use one or more underlying assets and</p><p style="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">b) the consideration for the lease increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Financial Instruments Explanatory
DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Financial Instruments</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition.</p> | |
| CY2023 | brog |
Description Of Accounting Policy For Financial Assets
DescriptionOfAccountingPolicyForFinancialAssets
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Financial Assets</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Initial recognition and measurement</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise to cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets of the Group include cash, cash equivalents, restricted bank balance, trade accounts receivable and other receivable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Subsequent measurement</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of subsequent measurement, financial assets are classified in four categories:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets measured at amortised cost;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets at fair value through OCI with recycling of cumulative gains and losses;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial assets at fair value through profit or loss.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Financial assets measured at amortised cost</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are carried at amortised cost if both of the following conditions are met:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The asset is held within a business model with the objective to hold assets in order to collect contractual cash flows; and</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Financial assets at fair value through profit or loss</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Derecognition</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised from the consolidated statement of financial position where:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The rights to receive cash flows from the asset have expired;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original current amount of the asset and the maximum amount of consideration that the Group could be required to repay.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Impairment of financial assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group recognises an allowance for expected credit loss (ECL) for all financial assets not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive. The shortfall is then discounted at an approximation to the asset’s original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For trade and other receivables, the Group has applied the standard’s simplified approach and has calculated ECLs based on lifetime expected credit losses. The Group calculates the ECL based on the Group’s historical credit loss experience, adjusted for forward-looking factors specific to the customer and the economic environment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Write-off of financial assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Financial Liabilities Explanatory
DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Financial Liabilities </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Initial recognition and measurement</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Subsequent measurement</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of subsequent measurement, financial liabilities are classified in two categories:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial liabilities at fair value through profit or loss;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Financial liabilities measured at amortised cost.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group has no financial liabilities at fair value through profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Trade and accounts payables </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liabilities for trade and accounts payables are recognised at cost which is the fair value of the consideration to be paid in the future for goods and services received, whether or not billed to the Group.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Borrowings</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All borrowings are initially recognized at the fair values less directly attributable transaction costs. After initial recognition, borrowings are subsequently measured at amortized cost using the effective interest method. Gains and losses are recognized in the consolidated statement of comprehensive income when liabilities are derecognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Derecognition</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the consolidated statement of comprehensive income or loss.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Derivative Financial Instruments Explanatory
DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Derivative Financial Instruments</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group uses derivative financial instruments, interest rate swaps, to hedge its interest risks. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any gains or losses arising from changes in the fair value of derivatives are taken directly to the consolidated statement of comprehensive income (within profit and loss) as the Group has not designated derivative financial instruments under hedging arrangements.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy To Determine Components Of Cash And Cash Equivalents
DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Cash and Cash Equivalents</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents comprise of cash on hand, balances in bank accounts and short term highly liquid deposits with a maturity date of three months or less that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.</p> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Offsetting Of Financial Instruments Explanatory
DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Offsetting of Financial Instruments</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are offset, and the net amount presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle them on a net basis or to realise the asset and settle the liability simultaneously.</p> | |
| CY2023 | brog |
Description Of Accounting Policy For Equity Instruments
DescriptionOfAccountingPolicyForEquityInstruments
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Equity Instruments</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Group comprising of share capital and shareholders’ accounts are recorded at the proceeds received, net of direct issue costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | |
| CY2023 | brog |
Description Of Accounting Policy For Statutory Reserve
DescriptionOfAccountingPolicyForStatutoryReserve
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Statutory Reserve</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As required by the Articles of Association of the BPGIC FZE, 10% of the profit for the year must be transferred to the Statutory reserve. The statutory reserve is not available for distribution to the shareholders. The Group has discontinued the annual transfers of 10% of the net profits of the Group as the reserve totals 50% of its paid up share capital.</p> | |
| CY2023 | brog |
Profit Percentage
ProfitPercentage
|
0.10 | pure |
| CY2023 | ifrs-full |
Average Effective Tax Rate
AverageEffectiveTaxRate
|
0.10 | pure |
| CY2023 | brog |
Issued Share Capital Percentage
IssuedShareCapitalPercentage
|
0.50 | pure |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Fair Value Measurement Explanatory
DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Fair Values of Financial Instruments</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of financial instruments that are traded in active markets at each reporting date is determined by reference to quoted market prices or dealer price quotations (bid price for long positions and ask price for short positions), without any deduction for transaction costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of financial instruments not traded on an active market is determined by using appropriate valuation techniques. Such techniques may include the use of recent commercial transactions in the market; reference to the current fair value of another instrument, which is practically the same; analysis of discounted cash flows or other valuation techniques.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Level 2 inputs, other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Level 3 inputs are unobservable inputs for the asset or liability.</td> </tr></table> | |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Income Tax Explanatory
DescriptionOfAccountingPolicyForIncomeTaxExplanatory
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Taxes</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Value Added Tax:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenses and assets are recognized net of the amount of input tax, except:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">When the input tax is incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the input tax is recognized as part of the cost of acquisition of the asset or as part of the expense item, as applicable;</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">The net amount of value added tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statement of financial position, as applicable.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Input VAT and Output VAT</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Input VAT is recognized when the goods or services are supplied to the Group and the tax on which is paid / due to be paid by the Group to the Supplier.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Output VAT is recognized in respect of taxable supply of goods / services rendered by the Group on which tax is charged and due to be paid to the UAE Federal Tax Authority.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Corporate Tax in the UAE</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 9, 2022, the UAE Ministry of Finance published the full text of the law Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. This means businesses will be subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after June 1, 2023. Per the Cabinet of Ministers Decision No. 116 published on January 16, 2023, a standard rate of 9% will apply to taxable income exceeding a threshold of AED 375,000, and a rate of 0% will apply to taxable income not exceeding that threshold.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As the Group’s accounting year ends on December 31, accordingly the effective implementation date for the Group will start from January 1, 2024, to December 31, 2024, with the first return to be filed on or before September 30, 2025. The Group is currently assessing the impact of this tax.</p> | |
| CY2023Q1 | brog |
Standard Rate Percentage
StandardRatePercentage
|
0.09 | pure |
| CY2023Q1 | ifrs-full |
Current Tax Expense Income
CurrentTaxExpenseIncome
|
375000 | aed |
| CY2023Q1 | ifrs-full |
Borrowings Interest Rate
BorrowingsInterestRate
|
0 | pure |
| CY2023 | ifrs-full |
Disclosure Of Revenue Explanatory
DisclosureOfRevenueExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">6</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Revenue</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Storage rental income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">102,045,523</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">77,577,633</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reimbursable port charges (Note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,027,106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,039,396</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Ancillary services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,623,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,923,747</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">105,695,648</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">81,540,776</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The revenues of the Group mainly comprise of fixed fees for storage and related services and variable fees for ancillary services provided under a contract with its customers. Accordingly, there is no cyclicality in the Group's operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The commercial contracts with customers have been assigned as security against the borrowings obtained in 2020.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reimbursable port charges of USD 2,027,106 (2022: USD 2,039,396) are paid by the Group to the port authority and recharged to the customers.</p> | |
| CY2023 | ifrs-full |
Rental Income
RentalIncome
|
102045523 | usd |
| CY2022 | ifrs-full |
Rental Income
RentalIncome
|
77577633 | usd |
| CY2023 | ifrs-full |
Miscellaneous Other Operating Income
MiscellaneousOtherOperatingIncome
|
2027106 | usd |
| CY2022 | ifrs-full |
Miscellaneous Other Operating Income
MiscellaneousOtherOperatingIncome
|
2039396 | usd |
| CY2023 | brog |
Ancillary Services
AncillaryServices
|
1623019 | usd |
| CY2022 | brog |
Ancillary Services
AncillaryServices
|
1923747 | usd |
| CY2023 | ifrs-full |
Revenue
Revenue
|
105695648 | usd |
| CY2022 | ifrs-full |
Revenue
Revenue
|
81540776 | usd |
| CY2023 | ifrs-full |
Property Service Charge Income
PropertyServiceChargeIncome
|
2027106 | usd |
| CY2022 | ifrs-full |
Property Service Charge Income
PropertyServiceChargeIncome
|
2039396 | usd |
| CY2023 | ifrs-full |
Disclosure Of Cost Of Sales Explanatory
DisclosureOfCostOfSalesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">7</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Direct Costs</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Depreciation on property, plant and equipment</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,656,056</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,615,658</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Employees' costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,528,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,232,980</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reimbursable port charges (Note 6)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,027,106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,039,396</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Maintenance charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,635,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,741,780</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Spare parts and consumables used</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,140,063</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,460,979</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Insurance charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,050,188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,977</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">717,627</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">644,672</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">23,755,056</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">24,691,442</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Disclosure Of Expenses Explanatory
DisclosureOfExpensesExplanatory
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Depreciation on property, plant and equipment</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,656,056</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,615,658</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Employees' costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,528,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,232,980</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reimbursable port charges (Note 6)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,027,106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,039,396</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Maintenance charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,635,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,741,780</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Spare parts and consumables used</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,140,063</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,460,979</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Insurance charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,050,188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,977</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">717,627</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">644,672</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">23,755,056</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">24,691,442</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | brog |
Depreciation Of Property Plant And Equipment
DepreciationOfPropertyPlantAndEquipment
|
12656056 | usd |
| CY2022 | brog |
Depreciation Of Property Plant And Equipment
DepreciationOfPropertyPlantAndEquipment
|
12615658 | usd |
| CY2023 | ifrs-full |
Other Employee Expense
OtherEmployeeExpense
|
4528323 | usd |
| CY2022 | ifrs-full |
Other Employee Expense
OtherEmployeeExpense
|
4232980 | usd |
| CY2023 | brog |
Reimbursable Port Charge
ReimbursablePortCharge
|
2027106 | usd |
| CY2022 | brog |
Reimbursable Port Charge
ReimbursablePortCharge
|
2039396 | usd |
| CY2023 | ifrs-full |
Property Service Charge Expense
PropertyServiceChargeExpense
|
1635693 | usd |
| CY2022 | ifrs-full |
Property Service Charge Expense
PropertyServiceChargeExpense
|
2741780 | usd |
| CY2023 | ifrs-full |
Raw Materials And Consumables Used
RawMaterialsAndConsumablesUsed
|
1140063 | usd |
| CY2022 | ifrs-full |
Raw Materials And Consumables Used
RawMaterialsAndConsumablesUsed
|
1460979 | usd |
| CY2023 | ifrs-full |
Insurance Expense
InsuranceExpense
|
1050188 | usd |
| CY2022 | ifrs-full |
Insurance Expense
InsuranceExpense
|
955977 | usd |
| CY2023 | ifrs-full |
Other Expense By Function
OtherExpenseByFunction
|
717627 | usd |
| CY2022 | ifrs-full |
Other Expense By Function
OtherExpenseByFunction
|
644672 | usd |
| CY2023 | ifrs-full |
Cost Of Sales
CostOfSales
|
23755056 | usd |
| CY2022 | ifrs-full |
Cost Of Sales
CostOfSales
|
24691442 | usd |
| CY2023 | ifrs-full |
Disclosure Of General And Administrative Expense Explanatory
DisclosureOfGeneralAndAdministrativeExpenseExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">8</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">General and Administration Expenses</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Expected credit loss on trade accounts receivables (Note 11)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">18,202,132</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-23; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Write-off of advances to contractor (Note 14)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,006,262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-24; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Legal and professional</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,795,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,383,335</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SEC settlement charges (Note 16)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-25; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,855,029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,026,399</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Employees' cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,741,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,292,361</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-off of trade accounts receivables (Note 11)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">927,519</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-26; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">895,157</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">949,784</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Board fees and expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392,448</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">356,493</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">409,544</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Rent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">166,894</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">54,015</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,009</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">54,075,686</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,652,819</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | brog |
Expected Credit Loss On Trade Accounts Receivables Note11
ExpectedCreditLossOnTradeAccountsReceivablesNote11
|
18202132 | usd |
| CY2023 | brog |
Writeoff Of Advances To Contractor
WriteoffOfAdvancesToContractor
|
15006262 | usd |
| CY2023 | ifrs-full |
Professional Fees Expense
ProfessionalFeesExpense
|
6795869 | usd |
| CY2022 | ifrs-full |
Professional Fees Expense
ProfessionalFeesExpense
|
7383335 | usd |
| CY2023 | brog |
Sec Settlement Charges
SECSettlementCharges
|
5000000 | usd |
| CY2023 | ifrs-full |
Sales And Marketing Expense
SalesAndMarketingExpense
|
3855029 | usd |
| CY2022 | ifrs-full |
Sales And Marketing Expense
SalesAndMarketingExpense
|
3026399 | usd |
| CY2023 | ifrs-full |
Employee Benefits Expense
EmployeeBenefitsExpense
|
2741321 | usd |
| CY2022 | ifrs-full |
Employee Benefits Expense
EmployeeBenefitsExpense
|
3292361 | usd |
| CY2023 | brog |
Writeoff Of Trade Accounts Receivables Note11
WriteoffOfTradeAccountsReceivablesNote11
|
927519 | usd |
| CY2023 | ifrs-full |
Insurance Service Expenses From Insurance Contracts Issued
InsuranceServiceExpensesFromInsuranceContractsIssued
|
895157 | usd |
| CY2022 | ifrs-full |
Insurance Service Expenses From Insurance Contracts Issued
InsuranceServiceExpensesFromInsuranceContractsIssued
|
949784 | usd |
| CY2023 | brog |
Board Fees And Expenses
BoardFeesAndExpenses
|
392448 | usd |
| CY2022 | brog |
Board Fees And Expenses
BoardFeesAndExpenses
|
356493 | usd |
| CY2023 | ifrs-full |
Administrative Expense
AdministrativeExpense
|
203098 | usd |
| CY2022 | ifrs-full |
Administrative Expense
AdministrativeExpense
|
409544 | usd |
| CY2023 | ifrs-full |
Rental Expense
RentalExpense
|
2836 | usd |
| CY2022 | ifrs-full |
Rental Expense
RentalExpense
|
166894 | usd |
| CY2023 | ifrs-full |
Other Expense By Nature
OtherExpenseByNature
|
54015 | usd |
| CY2022 | ifrs-full |
Other Expense By Nature
OtherExpenseByNature
|
68009 | usd |
| CY2023 | ifrs-full |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
54075686 | usd |
| CY2022 | ifrs-full |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
15652819 | usd |
| CY2023 | ifrs-full |
Disclosure Of Finance Cost Explanatory
DisclosureOfFinanceCostExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">9</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Finance Costs</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Interest on borrowings</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">17,606,995</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">22,177,769</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest on lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,086,680</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,043,214</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bank charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,347</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation - accretion expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,040</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,859</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exchange loss</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,284</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,800</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">20,915,219</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">25,417,989</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Interest Expense On Borrowings
InterestExpenseOnBorrowings
|
17606995 | usd |
| CY2022 | ifrs-full |
Interest Expense On Borrowings
InterestExpenseOnBorrowings
|
22177769 | usd |
| CY2023 | brog |
Interest Charged On Lease Liability
InterestChargedOnLeaseLiability
|
3086680 | usd |
| CY2022 | brog |
Interest Charged On Lease Liability
InterestChargedOnLeaseLiability
|
3043214 | usd |
| CY2023 | brog |
Bank Charges
BankCharges
|
133220 | usd |
| CY2022 | brog |
Bank Charges
BankCharges
|
119347 | usd |
| CY2023 | brog |
Asset Retirement Obligation Accretion Expenses
AssetRetirementObligationAccretionExpenses
|
-68040 | usd |
| CY2022 | brog |
Asset Retirement Obligation Accretion Expenses
AssetRetirementObligationAccretionExpenses
|
-65859 | usd |
| CY2023 | ifrs-full |
Net Foreign Exchange Loss
NetForeignExchangeLoss
|
20284 | usd |
| CY2022 | ifrs-full |
Net Foreign Exchange Loss
NetForeignExchangeLoss
|
11800 | usd |
| CY2023 | ifrs-full |
Finance Costs
FinanceCosts
|
20915219 | usd |
| CY2022 | ifrs-full |
Finance Costs
FinanceCosts
|
25417989 | usd |
| CY2023 | ifrs-full |
Disclosure Of Restricted Cash And Cash Equivalents Explanatory
DisclosureOfRestrictedCashAndCashEquivalentsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">10</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Restricted Bank Balance, Cash and Cash Equivalents</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Cash in hand</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15,065</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">18,839</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Balances in current accounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">28,399,437</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,741,142</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">28,414,502</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">16,759,981</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">The above consist of the following:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline">Non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted bank balance (Note 15)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,500,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,500,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,500,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,500,000</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,718,655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">940,925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted bank balance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,195,847</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,319,056</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">19,914,502</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,259,981</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, restricted bank balances include USD 8,500,000 (2022: USD 8,500,000) held in the Liquidity account, USD 7,195,790 (2022: USD 7,319,056) held in the Debt Service Retention account, USD 5,000,057 (2022: <span style="-sec-ix-hidden: hidden-fact-27">nil</span>) is held in the Escrow account. The amount in the Escrow account purposed to pay the SEC settlement charge (Note 18).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, two former directors of the Group transferred USD 200,000 (USD 100,000 each) to the Escrow account from their personal account to pay the SEC settlement charge. These balances are not available for use by the Group and was not recognized as asset.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A first priority pledge over the balances in the Earnings account, Liquidity account, and Debt Service Retention account is held as security under the Bond Terms.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Significant non-cash transactions</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group recorded trade and accounts payables of USD 21,416,246 due to property, plant and equipment suppliers as at December 31, 2023 for additions of capital work in progress during the year.</p> | |
| CY2023 | brog |
Schedule Of Restricted Bank Balance Cash And Cash Equivalents Explanatory
ScheduleOfRestrictedBankBalanceCashAndCashEquivalentsExplanatory
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Cash in hand</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15,065</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">18,839</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Balances in current accounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">28,399,437</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,741,142</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">28,414,502</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">16,759,981</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">The above consist of the following:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline">Non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted bank balance (Note 15)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,500,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,500,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,500,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,500,000</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,718,655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">940,925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted bank balance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,195,847</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,319,056</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">19,914,502</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,259,981</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023Q4 | ifrs-full |
Cash On Hand
CashOnHand
|
15065 | usd |
| CY2022Q4 | ifrs-full |
Cash On Hand
CashOnHand
|
18839 | usd |
| CY2023Q4 | ifrs-full |
Balances With Banks
BalancesWithBanks
|
28399437 | usd |
| CY2022Q4 | ifrs-full |
Balances With Banks
BalancesWithBanks
|
16741142 | usd |
| CY2023Q4 | ifrs-full |
Cash
Cash
|
28414502 | usd |
| CY2022Q4 | ifrs-full |
Cash
Cash
|
16759981 | usd |
| CY2023Q4 | brog |
Restricted Bank Balance Non Current
RestrictedBankBalanceNonCurrent
|
8500000 | usd |
| CY2022Q4 | brog |
Restricted Bank Balance Non Current
RestrictedBankBalanceNonCurrent
|
8500000 | usd |
| CY2023Q4 | brog |
Total Restricted Bank Balance Non Current
TotalRestrictedBankBalanceNonCurrent
|
8500000 | usd |
| CY2022Q4 | brog |
Total Restricted Bank Balance Non Current
TotalRestrictedBankBalanceNonCurrent
|
8500000 | usd |
| CY2023Q4 | ifrs-full |
Shortterm Deposits Classified As Cash Equivalents
ShorttermDepositsClassifiedAsCashEquivalents
|
7718655 | usd |
| CY2022Q4 | ifrs-full |
Shortterm Deposits Classified As Cash Equivalents
ShorttermDepositsClassifiedAsCashEquivalents
|
940925 | usd |
| CY2023Q4 | brog |
Restricted Bank Balance
RestrictedBankBalance
|
12195847 | usd |
| CY2022Q4 | brog |
Restricted Bank Balance
RestrictedBankBalance
|
7319056 | usd |
| CY2023Q4 | brog |
Total Restricted Bank Balances Current
TotalRestrictedBankBalancesCurrent
|
19914502 | usd |
| CY2022Q4 | brog |
Total Restricted Bank Balances Current
TotalRestrictedBankBalancesCurrent
|
8259981 | usd |
| CY2023Q4 | brog |
Restricted Bank Balance Non Current
RestrictedBankBalanceNonCurrent
|
8500000 | usd |
| CY2022Q2 | brog |
Restricted Bank Balance Non Current
RestrictedBankBalanceNonCurrent
|
8500000 | usd |
| CY2023Q4 | brog |
Liquidity Amount
LiquidityAmount
|
7195790 | usd |
| CY2022Q2 | brog |
Liquidity Amount
LiquidityAmount
|
7319056 | usd |
| CY2023Q4 | brog |
Escrow Amount
EscrowAmount
|
5000057 | usd |
| CY2023Q4 | brog |
Amounttransferred To Escrow Account
AmounttransferredToEscrowAccount
|
200000 | usd |
| CY2023Q4 | brog |
Amount Transferred To Escrow Amount1
AmountTransferredToEscrowAmount1
|
100000 | usd |
| CY2023Q4 | ifrs-full |
Trade And Other Payables To Trade Suppliers
TradeAndOtherPayablesToTradeSuppliers
|
21416246 | usd |
| CY2023 | ifrs-full |
Disclosure Of Trade And Other Receivables Explanatory
DisclosureOfTradeAndOtherReceivablesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">11</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Trade Accounts Receivables and Contract Liabilities</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Trade accounts receivables</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">19,171,243</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">5,275,047</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Expected credit losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,202,132</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-28; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Write-off</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(927,519</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-29; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">41,592</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,275,047</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="margin-top: 0; margin-bottom: 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The age analysis of trade accounts receivables as at the end of the reporting period was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross carrying amount</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected credit loss</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected credit loss rate</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: justify">Current</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3,566,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">623,068</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(3,524,585</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-30; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">99</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-31; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">More than 30 days past due</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,114,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,114,733</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-32; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-33; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">More than 60 days past due</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,228,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-34; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,228,819</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-35; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-36; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">More than 120 days past due</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,652,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,753</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,652,053</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-37; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-38; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">More than 150 days past due</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,681,942</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,647,337</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,681,942</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-39; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">100</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-40; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">18,243,724</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,275,047</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(18,202,132</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-41; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-42"> </div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-43"> </div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">a)</td><td style="text-align: justify">ECL of USD 14,888,594 due from a single international customer, net of credit notes issued for tanks novated back by BPGIC FZE due to the default in payment within the same year. In order to ascertain an event of potential credit loss from this customer, the Management performed an assessment of any circumstances of which the Group are aware regarding this customer's inability to meet its financial obligations including:</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">ongoing negotiations with the customer and the expected recoverability. and</span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the failure of a debtor to engage in a repayment plan with the Group.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">b)</td><td style="text-align: justify">ECL of USD 3,313,538 due from a UAE based customer against which the management has filed a court case and received verdict in its favor as per DIAC court verdict received in July 2024, however, since the receivable is still subject to enforcement activities and given no recovery is made until October 2024, ECL provision has been created on the same (Note 28).</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the above-mentioned factors, the management provisioned an expected credit loss on trade accounts receivables amounting to USD 18,202,132 and expensed to the consolidated statement of comprehensive income (Note 8).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">c)</td><td style="text-align: justify">Also, during the year the management decided to write-off trade accounts receivables amounting USD 927,519 as there was no reasonable expectation of recovery (2022: <span style="-sec-ix-hidden: hidden-fact-44">nil</span>).</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">d)</td><td style="text-align: justify">For explanation on the Group credit risk management process, refer Note 24.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">e)</td><td style="text-align: justify">Trade receivables are non-interest bearing.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Contract Liabilities</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2023, the Group had a contract liabilities of USD 2,539,404 related to storage services (2022: USD 6,222,055). The decrease in 2023 was due to the expiration of some contracts, which were replaced by new contracts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue recognized during the year from the amount included in contract liabilities at the beginning of the period.</p> | |
| CY2023Q4 | ifrs-full |
Current Trade Receivables
CurrentTradeReceivables
|
19171243 | usd |
| CY2022Q4 | ifrs-full |
Current Trade Receivables
CurrentTradeReceivables
|
5275047 | usd |
| CY2023Q4 | brog |
Expected Credit Losses Of Trade Accounts Receivable
ExpectedCreditLossesOfTradeAccountsReceivable
|
-18202132 | usd |
| CY2023Q4 | brog |
Writeoff Of Advances To Contractors
WriteoffOfAdvancesToContractors
|
927519 | usd |
| CY2023Q4 | ifrs-full |
Trade Receivables
TradeReceivables
|
41592 | usd |
| CY2022Q4 | ifrs-full |
Trade Receivables
TradeReceivables
|
5275047 | usd |
| CY2023Q4 | ifrs-full |
Trade And Other Receivables
TradeAndOtherReceivables
|
18243724 | usd |
| CY2022Q4 | ifrs-full |
Trade And Other Receivables
TradeAndOtherReceivables
|
5275047 | usd |
| CY2023 | brog |
Expected Credit Loss
ExpectedCreditLoss
|
-18202132 | usd |
| CY2023 | brog |
Expctd Credit Loss
ExpctdCreditLoss
|
14888594 | usd |
| CY2023Q4 | brog |
Expected Credit Losses Of Trade Accounts Receivable
ExpectedCreditLossesOfTradeAccountsReceivable
|
-18202132 | usd |
| CY2023Q4 | ifrs-full |
Contract Liabilities
ContractLiabilities
|
2539404 | usd |
| CY2022Q4 | ifrs-full |
Contract Liabilities
ContractLiabilities
|
6222055 | usd |
| CY2023 | ifrs-full |
Disclosure Of Property Plant And Equipment Explanatory
DisclosureOfPropertyPlantAndEquipmentExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">12</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Property, Plant and Equipment</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Buildings</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Installations</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> Equipments</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Tanks</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Capital Work in<br/> Progress</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Right of use<br/> Assets</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify">Cost:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 18%; text-align: left">As at January 1, 2023</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">30,813,692</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">179,367,406</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,223,689</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">154,532,494</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">17,209,735</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 8%; border-bottom: Black 1.5pt solid; text-align: right">84,989,427</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 8%; border-bottom: Black 1.5pt solid; text-align: right">468,136,443</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-45; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,455</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,845</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">868,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,062,968</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-46; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,979,303</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Reclassified during the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-47; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-48; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">359,331</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(359,331</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-49; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-50; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-51; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Transfers from capital work in progress</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">152,911</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">148,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-52; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-53; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(300,911</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-54; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-55; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,966,603</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">179,536,861</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,609,865</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">155,041,198</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">52,971,792</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">84,989,427</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">505,115,746</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify">Accumulated Depreciation:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at January 1, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,829,153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,845,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">371,454</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,845,886</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-56; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,203,387</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">42,095,804</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Reclassified during the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-57; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-58; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">297,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,144</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-59; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-60; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-61; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Charge for the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,238,129</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,598,278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">226,183</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,105,239</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-62; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,398,871</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,566,700</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,067,282</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,444,202</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">894,781</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,653,981</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-63; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,602,258</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">55,662,504</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify">Net Book Value:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2023</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">23,899,321</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">152,092,659</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">715,084</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">142,387,217</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">52,971,792</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">77,387,169</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">449,453,242</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2022</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">24,984,539</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">159,521,482</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">852,235</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">144,686,608</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">17,209,735</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">78,786,040</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">426,040,639</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Capital work in progress as of December 31, 2023, mostly relates to the Group's cost pertaining to the Early Preparation Works and Terminal Connectivity under development. The construction project is expected to be completed in 2027 (Phase I) and in 2028 (Phase II).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Land lease agreement and the moveable assets of the Group are pledged as security against borrowings obtained in 2020 (Note 15).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Total amount of borrowing costs capitalised during the year ended December 31, 2023, was USD 7,820,010 (December 31, 2022: USD 8,307,692). It includes an amount of USD 6,909,366 related to finance charge of lease liabilities and an amount of USD 910,644 related to depreciation charge on right-of-use asset capitalised. The rate used to determine the amount of borrowing costs eligible for capitalisation was 13%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The depreciation charge for the year is allocated to the consolidated statement of comprehensive income (within profit and loss) and capital work in progress as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Direct costs (Note 7)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,656,056</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,615,658</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>CWIP</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">910,644</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">926,099</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13,566,700</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13,541,757</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Disclosure Of Detailed Information About Property Plant And Equipment Explanatory
DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Buildings</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Installations</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> Equipments</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Tanks</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Capital Work in<br/> Progress</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Right of use<br/> Assets</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify">Cost:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 18%; text-align: left">As at January 1, 2023</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">30,813,692</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">179,367,406</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,223,689</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">154,532,494</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">17,209,735</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 8%; border-bottom: Black 1.5pt solid; text-align: right">84,989,427</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 8%; border-bottom: Black 1.5pt solid; text-align: right">468,136,443</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-45; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,455</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,845</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">868,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,062,968</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-46; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,979,303</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Reclassified during the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-47; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-48; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">359,331</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(359,331</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-49; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-50; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-51; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Transfers from capital work in progress</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">152,911</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">148,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-52; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-53; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(300,911</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-54; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-55; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,966,603</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">179,536,861</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,609,865</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">155,041,198</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">52,971,792</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">84,989,427</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">505,115,746</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify">Accumulated Depreciation:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at January 1, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,829,153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,845,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">371,454</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,845,886</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-56; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,203,387</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">42,095,804</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Reclassified during the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-57; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-58; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">297,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,144</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-59; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-60; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-61; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Charge for the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,238,129</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,598,278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">226,183</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,105,239</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-62; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,398,871</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,566,700</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,067,282</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,444,202</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">894,781</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,653,981</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-63; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,602,258</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">55,662,504</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify">Net Book Value:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2023</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">23,899,321</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">152,092,659</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">715,084</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">142,387,217</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">52,971,792</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">77,387,169</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">449,453,242</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">As at December 31, 2022</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">24,984,539</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">159,521,482</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">852,235</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">144,686,608</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">17,209,735</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">78,786,040</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">426,040,639</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2022Q4 | ifrs-full |
Property Plant And Equipment Carrying Amount At Cost Of Revalued Assets
PropertyPlantAndEquipmentCarryingAmountAtCostOfRevaluedAssets
|
468136443 | usd |
| CY2023 | ifrs-full |
Additions Other Than Through Business Combinations Property Plant And Equipment
AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
|
36979303 | usd |
| CY2023Q4 | ifrs-full |
Property Plant And Equipment Carrying Amount At Cost Of Revalued Assets
PropertyPlantAndEquipmentCarryingAmountAtCostOfRevaluedAssets
|
505115746 | usd |
| CY2022Q4 | brog |
Accumulated Depreciation
AccumulatedDepreciation
|
42095804 | usd |
| CY2023 | ifrs-full |
Depreciation Expense
DepreciationExpense
|
13566700 | usd |
| CY2023Q4 | brog |
Accumulated Depreciation
AccumulatedDepreciation
|
55662504 | usd |
| CY2023Q4 | brog |
Net Book Value Balance
NetBookValueBalance
|
449453242 | usd |
| CY2022Q4 | brog |
Net Book Value Balance
NetBookValueBalance
|
426040639 | usd |
| CY2023 | ifrs-full |
Borrowing Costs Capitalised
BorrowingCostsCapitalised
|
7820010 | usd |
| CY2022 | ifrs-full |
Borrowing Costs Capitalised
BorrowingCostsCapitalised
|
8307692 | usd |
| CY2023 | ifrs-full |
Depreciation Rightofuse Assets
DepreciationRightofuseAssets
|
910644 | usd |
| CY2023 | ifrs-full |
Capitalisation Rate Of Borrowing Costs Eligible For Capitalisation
CapitalisationRateOfBorrowingCostsEligibleForCapitalisation
|
0.13 | pure |
| CY2023 | ifrs-full |
Disclosure Of Depreciation And Amortisation Expense Explanatory
DisclosureOfDepreciationAndAmortisationExpenseExplanatory
|
The depreciation charge for the year is allocated to the consolidated statement of comprehensive income (within profit and loss) and capital work in progress as follows:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Direct costs (Note 7)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,656,056</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">12,615,658</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>CWIP</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">910,644</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">926,099</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13,566,700</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13,541,757</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | brog |
Depreciation Of Property Plant And Equipment
DepreciationOfPropertyPlantAndEquipment
|
12656056 | usd |
| CY2022 | brog |
Depreciation Of Property Plant And Equipment
DepreciationOfPropertyPlantAndEquipment
|
12615658 | usd |
| CY2023 | brog |
Capital Work In Progress
CapitalWorkInProgress
|
910644 | usd |
| CY2022 | brog |
Capital Work In Progress
CapitalWorkInProgress
|
926099 | usd |
| CY2023 | ifrs-full |
Depreciation Expense
DepreciationExpense
|
13566700 | usd |
| CY2022 | ifrs-full |
Depreciation Expense
DepreciationExpense
|
13541757 | usd |
| CY2023 | ifrs-full |
Disclosure Of Derivative Financial Instruments Explanatory
DisclosureOfDerivativeFinancialInstrumentsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">13</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Derivative Financial Instruments</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Call option</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">5,610,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">9,263,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,610,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">9,263,296</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 24, 2020, the Group issued long term fixed interest rate senior secured bonds of USD 200,000,000 to private investors with a face value of USD 1 at an issue price of USD 0.95 (Note 15). The Group has the option to redeem the bonds in full or in part any time after September 24, 2023 (the “call option”). The call option represents an embedded derivative that has been separated from the host contract and separately valued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2023 management assessed the value of the call option and classified of USD 3,653,296 (2022: USD 3,840,379) as change in fair value of derivative financial instrument in the consolidated statement of comprehensive income.</p> | |
| CY2023 | ifrs-full |
Trading Income Expense On Derivative Financial Instruments
TradingIncomeExpenseOnDerivativeFinancialInstruments
|
5610000 | usd |
| CY2022 | ifrs-full |
Trading Income Expense On Derivative Financial Instruments
TradingIncomeExpenseOnDerivativeFinancialInstruments
|
9263296 | usd |
| CY2020Q3 | ifrs-full |
Net Amounts For Payfloating Receivefixed Interest Rate Swaps For Which Net Cash Flows Are Exchanged
NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged
|
200000000 | usd |
| CY2020Q3 | brog |
Investors Face Value
InvestorsFaceValue
|
1 | usd |
| CY2023 | brog |
Changes In Fair Value Of Derivative Financial Instruments
ChangesInFairValueOfDerivativeFinancialInstruments
|
-3653296 | usd |
| CY2022 | brog |
Changes In Fair Value Of Derivative Financial Instruments
ChangesInFairValueOfDerivativeFinancialInstruments
|
3840379 | usd |
| CY2023 | ifrs-full |
Disclosure Of Loans And Advances To Customers Explanatory
DisclosureOfLoansAndAdvancesToCustomersExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">14</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Advances to Contractor</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Advances to contractor</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15,210,262</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15,223,215</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Write-off (Note 8)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,006,262</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-64; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">204,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,223,215</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The above amount represents payments made to Audex Fujairah LL FZE and Audex Pte Ltd, Singapore (together “Audex”) for the construction of the Group’s Fujairah Terminal, which were assessed and written-off in 2023 after reconciling the books of accounts with the long-standing EPC partner Audex.</p> | |
| CY2023 | ifrs-full |
Disclosure Of Revenue From Contracts With Customers Explanatory
DisclosureOfRevenueFromContractsWithCustomersExplanatory
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Advances to contractor</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15,210,262</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15,223,215</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Write-off (Note 8)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,006,262</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-64; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">204,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,223,215</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | brog |
Advances To Contractors
AdvancesToContractors
|
15210262 | usd |
| CY2022 | brog |
Advances To Contractors
AdvancesToContractors
|
15223215 | usd |
| CY2023 | brog |
Advances Writeoff
AdvancesWriteoff
|
15006262 | usd |
| CY2023 | brog |
Total Advances To Contractor
TotalAdvancesToContractor
|
204000 | usd |
| CY2022 | brog |
Total Advances To Contractor
TotalAdvancesToContractor
|
15223215 | usd |
| CY2023 | ifrs-full |
Disclosure Of Borrowings Explanatory
DisclosureOfBorrowingsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">15</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Borrowings</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">Current borrowings</td><td> </td> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Current portion of Bonds</td><td style="width: 1%"> </td> <td style="width: 11%; text-align: center; padding-left: 5.4pt">On demand</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">160,100,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">171,300,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion of Term loan</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">396,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">396,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,496,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171,696,134</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Non-current borrowings</td><td> </td> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-current portion of Term loan</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">2028</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,386,469</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,782,603</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,386,469</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,782,603</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total borrowings</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: right; padding-bottom: 4pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">161,882,603</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">173,478,737</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Bonds</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at December 31, 2023, the bonds are classified as current as the Group is in technical breach of certain covenants under the Bond Terms. These breaches do not constitute payment defaults as the Group has always met the coupon and instalment payments as per the Bond Terms.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Bonds</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Coupon <br/> rate %</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Effective <br/> interest rate %</td><td style="padding-bottom: 1.5pt; font-weight: bold"></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Maturity date</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left; width: 40%">USD 200,000,000 bond net of transaction costs</td><td style="width: 1%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 9%">8.50</td><td style="text-align: left; width: 1%">%</td><td style="width: 1%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 9%">10.57</td><td style="text-align: left; width: 1%">%</td><td style="width: 1%"> </td> <td style="text-align: center; padding-left: 5.4pt; width: 11%">Refer note below</td><td style="width: 1%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 9%">160,100,000</td><td style="text-align: left; width: 1%"> </td><td style="width: 1%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 9%">171,300,000</td><td style="text-align: left; width: 1%"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 24, 2020, BPGIC FZE issued long term fixed interest rate senior secured bonds of USD 200,000,000 to private investors with a face value of USD 1 at an issue price of USD 0.95. The Group can issue further bonds of up to USD 50,000,000 under identical terms except issue price that can be above or below the nominal amount, subject to certain conditions. The proceeds of the bonds of USD 186,000,000 net of USD 4,000,000 of transaction costs were drawn down during November 2020. In accordance with the terms of the bonds, the proceeds were used to settle the existing term loans and promissory notes. The amount of USD 85,000,000 were transferred to a Construction account to be used solely to fund the remaining phase 2 construction costs. The balance proceeds were used for general corporate purposes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The bonds will be repaid in semi-annual payments of USD 7,000,000 starting September 2021 until March 2025, and one bullet repayment of USD 144,000,000 in September 2025. Interest will accrue at a coupon rate of 8.5% and will be payable semi-annually in March and September each year. The Group has the option to redeem the bonds in full or in part any time after September 24, 2023 (the “call option”). The call option represents an embedded derivative that has been separated from the host contract and separately valued. On December 31, 2023, the management assessed the value of the call option of USD 5,610,000 (December 31, 2022: USD 9,263,296) (Note 13).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The bonds are secured by:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(i)</td><td style="text-align: justify">Pledge over all the existing and future shares of BPGIC FZE;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Assignment of rights and pledge over the balance in the Earnings account;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(iii)</td><td style="text-align: justify">Pledge over the balance in the Liquidity account, the Debt Service Retention account and the Construction Funding account;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(iv)</td><td style="text-align: justify">Pledge over moveable assets of BPGIC FZE and its subsidiaries;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(v)</td><td style="text-align: justify">Security assignment of commercial contracts related to phase I and phase II, land lease agreement, port facilities agreement and EPC construction contract;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(vi)</td><td style="text-align: justify">Security assignment over insurance contracts for phase I terminal, phase II terminal and admin building;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(vii)</td><td style="text-align: justify">Security assignment over group and intercompany loans; and</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(viii)</td><td style="text-align: justify">Corporate guarantee from Brooge Energy Limited.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The bond agreement also restricts BPGIC FZE from making any distributions other than in the form of an inter-company loan for phase III construction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the bond agreement, BPGIC FZE is subject to the following financial covenants during the term of the bonds:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(i)</td><td style="text-align: justify">Minimum Liquidity: BPGIC FZE to maintain USD 8.5 million in the Liquidity account;</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Leverage Ratio: BPGIC FZE and its subsidiaries’ leverage ratio not to exceed:</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(A) 5.5x at December 31, 2020;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(B) 3.5x at December 31, 2021; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(C) 3.0x anytime thereafter; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(iii)</td><td style="text-align: justify">Working Capital: BPGIC FZE and its subsidiaries to maintain a positive working capital.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The bond agreement requires the Brooge Energy Limited to comply with the following financial covenant:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">(i)</td><td style="text-align: justify">Maintain a minimum equity ratio of 25%.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, the Group continued to be in technical breach of the requirements to comply with certain covenants as per Bond Terms. Even though the lenders did not declare an event of default under the bond agreement, these breaches constituted events of default and could have resulted in the lender requiring immediate repayment of the bonds. Accordingly, the Group has continued to classify the respective bonds as a current liability as of December 31, 2023. The Group is in ongoing discussions with certain significant bondholders for waiver of these certain breaches as per the Bond Terms.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Bond Waiver letter</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 27, 2022, the Group entered into an agreement with the Bondholders to implement following amendments to the Bond Financing Facility, effective immediately:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0%"></td><td style="width: 0.5in">(a)</td><td style="text-align: justify">Waiver of the Events of Defaults that are triggered by the technical breaches of the Leverage Ratio and positive Working Capital covenants until December 31, 2022.</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0%"></td><td style="width: 0.5in">(b)</td><td style="text-align: justify">The requirement to maintain a Leverage Ratio to not exceed certain thresholds is suspended (waived) for the results period from December 31, 2021 to and including December 30, 2022, and shall be tested again for the 12 months results period from (and including) January 1, 2022 to December 31, 2022 (inclusive) at 3.5x, stepping down to 3.0x anytime thereafter (as per the original terms of the Bond Financing Facility). For the avoidance of doubt, the costs associated with the amendments shall not be taken into consideration in EBITDA when calculating Leverage Ratio.</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0%"></td><td style="width: 0.5in">(c)</td><td style="text-align: justify">The requirement to maintain a positive Working Capital is suspended (waived) for the period from December 31, 2021, to and including December 30, 2022, and shall be tested again starting from and including December 31, 2022.</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0%"></td><td style="width: 0.5in">(d)</td><td style="text-align: justify">Permitted Distribution:</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(i)</td><td style="text-align: justify">No Permitted Distribution shall be made before the Group is in compliance with financial covenant requirements under the original terms of the Bond Facility Financing.</td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Furthermore, the Group shall provide to the Bond Trustee a written statement signed by its chief executive officer and chief financial officer within three business days prior to any permitted distribution under the terms of the Bond Financing Facility that (A) states the amount being distributed as a permitted distribution, (B) confirms the conditions with respect to such distribution are satisfied, and (C) declares such distribution will not lead to an Event of Default on the next testing date.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Term loan</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2022, the Group obtained a loan facility from a commercial bank in UAE amounting to AED 8,730,000 (equivalent to USD 2,376,804) to partially finance the purchase of corporate office for the Group in Dubai. The new facility carries interest at 3 months EIBOR + 4% margin (minimum 6.5% per annum) and is repayable in 24 quarterly instalments commencing 6 months after the date of disbursement. The loan is secured by:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">i. Corporate guarantee from Brooge Energy Limited.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ii. BPGIC Phase 3 Limited grants in favour of the commercial bank a First Rank Degree Mortgage for a total mortgage of AED 13,000,000 of the corporate office.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iii. Rental income generated by the corporate office to be automatically assigned to the commercial bank unless the parties agree otherwise in writing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iv. Authority to debit account of BPGIC FZE.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">v. Promissory note for the secured loan.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">vi. Security cheque covering the total facility limit drawn by the Group.</p> | |
| CY2023Q4 | ifrs-full |
Shortterm Borrowings
ShorttermBorrowings
|
160496134 | usd |
| CY2022Q4 | ifrs-full |
Shortterm Borrowings
ShorttermBorrowings
|
171696134 | usd |
| CY2023Q4 | ifrs-full |
Longterm Borrowings
LongtermBorrowings
|
1386469 | usd |
| CY2022Q4 | ifrs-full |
Longterm Borrowings
LongtermBorrowings
|
1782603 | usd |
| CY2023Q4 | ifrs-full |
Current Borrowings And Current Portion Of Noncurrent Borrowings
CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings
|
161882603 | usd |
| CY2022Q4 | ifrs-full |
Current Borrowings And Current Portion Of Noncurrent Borrowings
CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings
|
173478737 | usd |
| CY2023 | brog |
Net Of Transaction Costs
NetOfTransactionCosts
|
200000000 | usd |
| CY2023 | brog |
Coupon Rate
CouponRate
|
0.085 | pure |
| CY2023 | brog |
Effective Interest Rate
EffectiveInterestRate
|
0.1057 | pure |
| CY2023 | brog |
Maturity Date
MaturityDate
|
Refer note below | |
| CY2023 | brog |
Bond Net Of Transaction Costs
BondNetOfTransactionCosts
|
160100000 | usd |
| CY2022 | brog |
Bond Net Of Transaction Costs
BondNetOfTransactionCosts
|
171300000 | usd |
| CY2020Q3 | brog |
Private Investors Face Value
PrivateInvestorsFaceValue
|
1 | usd |
| CY2020Q3 | ifrs-full |
Bonds Issued
BondsIssued
|
50000000 | usd |
| CY2020Q3 | ifrs-full |
Proceeds From Issue Of Bonds Notes And Debentures
ProceedsFromIssueOfBondsNotesAndDebentures
|
186000000 | usd |
| CY2020Q3 | brog |
Bonds Transaction Costs
BondsTransactionCosts
|
4000000 | usd |
| CY2023Q4 | ifrs-full |
Construction In Progress
ConstructionInProgress
|
85000000 | usd |
| CY2023Q4 | brog |
Bonds Semiannual Payments
BondsSemiannualPayments
|
7000000 | usd |
| CY2023Q4 | brog |
Bonds Repayment Amount
BondsRepaymentAmount
|
144000000 | usd |
| CY2023 | brog |
Bonds Interest Rate
BondsInterestRate
|
0.085 | pure |
| CY2023Q4 | brog |
Derivative Financial Instrument
DerivativeFinancialInstrument
|
5610000 | usd |
| CY2022Q4 | brog |
Derivative Financial Instrument
DerivativeFinancialInstrument
|
9263296 | usd |
| CY2023 | brog |
Bond Agreement Description
BondAgreementDescription
|
Under the bond agreement, BPGIC FZE is subject to the following financial covenants during the term of the bonds: (i)Minimum Liquidity: BPGIC FZE to maintain USD 8.5 million in the Liquidity account; (ii)Leverage Ratio: BPGIC FZE and its subsidiaries’ leverage ratio not to exceed:(A) 5.5x at December 31, 2020;(B) 3.5x at December 31, 2021; and(C) 3.0x anytime thereafter; and (iii)Working Capital: BPGIC FZE and its subsidiaries to maintain a positive working capital. | |
| CY2023 | brog |
Equity Ratio Percentage
EquityRatioPercentage
|
0.25 | pure |
| CY2022 | brog |
Loan Facility Commercial Bank
LoanFacilityCommercialBank
|
8730000 | aed |
| CY2023 | brog |
Facility Carries Interest
FacilityCarriesInterest
|
0.04 | pure |
| CY2023 | brog |
Eibor Interest
EIBORInterest
|
0.065 | pure |
| CY2023Q4 | brog |
Total Mortgage
TotalMortgage
|
13000000 | aed |
| CY2023 | ifrs-full |
Disclosure Of Trade And Other Payables Explanatory
DisclosureOfTradeAndOtherPayablesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">16</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Trade and Accounts Payables</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Trade accounts payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">24,266,237</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">9,853,157</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,615,601</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-65; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SEC settlement obligation (Note 18)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-66; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest on borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,519,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,815,551</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,512,726</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,076,957</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">VAT payable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">339,397</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">497,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">40,253,609</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">17,242,748</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Trade and accounts payables (excluding accrued interest on borrowings) are non-interest bearing and are normally settled on 90-day terms.</p> | |
| CY2023Q4 | ifrs-full |
Other Noncurrent Payables
OtherNoncurrentPayables
|
24266237 | usd |
| CY2022Q4 | ifrs-full |
Other Noncurrent Payables
OtherNoncurrentPayables
|
9853157 | usd |
| CY2023Q4 | brog |
Share Of Debt Instruments Issued That Are Included In Insurers Regulatory Capital
ShareOfDebtInstrumentsIssuedThatAreIncludedInInsurersRegulatoryCapital
|
5615601 | usd |
| CY2023Q4 | brog |
Sec Settlements Obligation
SECSettlementsObligation
|
5000000 | usd |
| CY2023Q4 | brog |
Accrued Interest On Borrowings
AccruedInterestOnBorrowings
|
3519648 | usd |
| CY2022Q4 | brog |
Accrued Interest On Borrowings
AccruedInterestOnBorrowings
|
3815551 | usd |
| CY2023Q4 | ifrs-full |
Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
|
1512726 | usd |
| CY2022Q4 | ifrs-full |
Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
|
3076957 | usd |
| CY2023Q4 | ifrs-full |
Value Added Tax Payables
ValueAddedTaxPayables
|
339397 | usd |
| CY2022Q4 | ifrs-full |
Value Added Tax Payables
ValueAddedTaxPayables
|
497083 | usd |
| CY2023Q4 | ifrs-full |
Trade And Other Current Payables
TradeAndOtherCurrentPayables
|
40253609 | usd |
| CY2022Q4 | ifrs-full |
Trade And Other Current Payables
TradeAndOtherCurrentPayables
|
17242748 | usd |
| CY2023 | ifrs-full |
Disclosure Of Leases Explanatory
DisclosureOfLeasesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">17</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Lease liabilities</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">As at January 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">90,873,411</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">89,781,180</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest on lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,996,046</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,398,008</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Land rentals</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,878,143</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,305,777</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As at December 31</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">91,991,314</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">90,873,411</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion of lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,003,395</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,316,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-current portion of lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">82,987,919</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">84,557,069</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2013, the Group entered into a land lease agreement with the Municipality of Fujairah (Fujairah Oil Industry Zone) for a period of 30 years, extendable for another 30 years at the option of the Group. The Group has concluded that they have the right-to-use of the asset and accordingly, recorded a lease liability as per the requirements of IFRS 16. Given the use of the land, it is reasonably certain that the Group will continue to lease the land till the end of the lease period (i.e. 60 years) and accordingly the below lease rentals cover a period up to 60 years discounted at the rate of 9.5% as an incremental borrowing rate for the Group. Annual lease rental is increased by 2% on an annual basis as per the agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2020, the Group entered into a land lease agreement in respect of its Phase III project with Fujairah Oil Industry Zone for a period of 30 years, extendable for another 30 years. Given the use of the land, it is reasonably certain that the Group will continue to lease the land till the end of the lease period (i.e. 60 years) and accordingly the lease rentals cover a period up to 60 years discounted at the rate of 13% as an incremental borrowing rate for the Group. The annual lease rental is increased by 2% on an annual basis and there is an initial rent-free period of 18 months from the contract date.</p> | |
| CY2023 | brog |
Disclosure Of Detailed Information About Lease Liability Explanatory
DisclosureOfDetailedInformationAboutLeaseLiabilityExplanatory
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">As at January 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">90,873,411</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">89,781,180</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest on lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,996,046</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,398,008</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Land rentals</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,878,143</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,305,777</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As at December 31</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">91,991,314</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">90,873,411</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion of lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,003,395</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,316,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-current portion of lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">82,987,919</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">84,557,069</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2022Q4 | ifrs-full |
Lease Liabilities
LeaseLiabilities
|
90873411 | usd |
| CY2021Q4 | ifrs-full |
Lease Liabilities
LeaseLiabilities
|
89781180 | usd |
| CY2023 | ifrs-full |
Interest Expense On Other Financial Liabilities
InterestExpenseOnOtherFinancialLiabilities
|
9996046 | usd |
| CY2022 | ifrs-full |
Interest Expense On Other Financial Liabilities
InterestExpenseOnOtherFinancialLiabilities
|
10398008 | usd |
| CY2023 | brog |
Land Rentals
LandRentals
|
-8878143 | usd |
| CY2022 | brog |
Land Rentals
LandRentals
|
-9305777 | usd |
| CY2023Q4 | ifrs-full |
Lease Liabilities
LeaseLiabilities
|
91991314 | usd |
| CY2022Q4 | ifrs-full |
Lease Liabilities
LeaseLiabilities
|
90873411 | usd |
| CY2023Q4 | ifrs-full |
Current Lease Liabilities
CurrentLeaseLiabilities
|
9003395 | usd |
| CY2022Q4 | ifrs-full |
Current Lease Liabilities
CurrentLeaseLiabilities
|
6316342 | usd |
| CY2023Q4 | ifrs-full |
Noncurrent Lease Liabilities
NoncurrentLeaseLiabilities
|
82987919 | usd |
| CY2022Q4 | ifrs-full |
Noncurrent Lease Liabilities
NoncurrentLeaseLiabilities
|
84557069 | usd |
| CY2023 | ifrs-full |
Description Of Accounting Policy For Trade And Other Payables Explanatory
DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">18</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Other Payable</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Brooge International Advisory LLC (BIA)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">130,000,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">74,253,965</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">130,000,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">74,253,965</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 26, 2023, the Group filed the Super Form 20-F for the financial years 2018 to 2022 and regained compliance with Nasdaq rules and regulations. However, as disclosed on May 27, 2022, the Group had not been able to file the 2021 Form 20-F due to an ongoing nonpublic examination being conducted by the U.S. SEC regarding the consolidated financial statements of the Group. Subsequently, the Audit Committee of the Board of Directors (the “Audit Committee”), engaged independent counsel to conduct under its supervision, an internal examination into the Group’s revenue recognition practices and related matters. As a result of the findings from this internal examination, on August 12, 2022, the Audit Committee, in consultation with the Group’s management, concluded that the previously issued audited consolidated financial statements as of and for the periods ending December 31, 2020, 2019 and 2018, and the previously issued unaudited consolidated financial statements for interim periods therein and the six months ended June 30, 2021, should no longer be relied upon.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the internal examination, the Group conducted a comprehensive review of the accounting policies, procedures, and internal controls related to revenue recognition. All available customer contracts were assessed based on IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases. This review identified that the funds received from a related party viz. M/s Al Brooge International Advisory LLC ("BIA") do not qualify to be recognised as revenue. Due to the qualitative nature of the matters identified in the Group’s internal examination, including the number of years over which the nonqualified revenue was recognized the Group determined that it would be appropriate to rectify the misstatements in the previously issued consolidated financial statements by restating such consolidated financial statements. Accordingly, the amount of USD 74,253,965 which represents funds received from BIA, was reversed from revenue, and re-classified as Other payable under Liabilities for the financial years from 2018 to 2020.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The above changes pertaining to reversal of Revenue and recognition of such amount under Other payable were accounted retrospectively in accordance with IAS 8.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pending its potential receipt of confirmation or adequate supporting documentation from the party, the Group had taken a conservative approach to recognise this as a liability as at reporting periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also, the Committee has decided to be conservative on the BIA relationship and hence has considered BIA to be a related party throughout the years. Please refer to Note 21.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 22, 2023, the Group has reached a settlement with the U.S. Securities and Exchange Commission (“SEC”) related to alleged fraudulent accounting and offering conduct by the Group. Pursuant to the SEC administrative order, which was entered on December 22, 2023, and which centers on the consolidated financial statements that have since been restated by the Group, Brooge Energy Limited fined to pay a civil money penalty of USD 5,000,000. The Group has taken the view that presenting the penalty in its consolidated financial statements reflects the substance of those transactions, which were related to the Group. Subsequently, the Group fully paid the penalty imposed (Note 28).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The administrative order resolves the SEC’s proceedings related to the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Litigation settlement </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 27, 2023, the Group was served with the UAE court order following a case brought forward by BIA. As a precautionary measure, the Court ordered the imposition of precautionary hold on the movable and immovable funds and also appointed a Judicial Guardian over the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 5, 2024, the Federal Supreme Court (equivalent of the Court of Cassation) in the United Arab Emirates rejected the appeals filed by legal team of the Group, relating to the claim and demand for payment from BIA. As a result of the Court’s decision dated March 5, 2024, the Group was ordered to pay USD 130 million, plus four percent interest per annum from December 26, 2023, until the date of payment to BIA. Accordingly, additional provision of USD 55,746,035 was recognized in these consolidated financial statements. USD 74.3 million of the total amount corresponds to liability already recognised in prior periods, while USD 55.7 million corresponds to additional obligations imposed by the Court.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The legal team of the Group is negotiating with BIA on the execution of payment details and continues to seek alternative ways to discharge this liability by exchange or modification of liability or the recognition of a liability as equity contribution. Pending final outcome of such negotiations the amount due to BIA continues to be disclosed as other payable as per the order of Federal Supreme Court and will be reclassified in accordance with the agreement as and when it is executed.</p> | |
| CY2023Q4 | ifrs-full |
Other Payables
OtherPayables
|
130000000 | usd |
| CY2022Q4 | ifrs-full |
Other Payables
OtherPayables
|
74253965 | usd |
| CY2023 | brog |
Fund Received Amount
FundReceivedAmount
|
74253965 | usd |
| CY2023Q4 | brog |
Civil Money Penalty Amount
CivilMoneyPenaltyAmount
|
5000000 | usd |
| CY2023Q4 | brog |
Interest Per Annum
InterestPerAnnum
|
0.04 | pure |
| CY2023 | ifrs-full |
Gains Losses On Litigation Settlements
GainsLossesOnLitigationSettlements
|
-55746035 | usd |
| CY2023 | ifrs-full |
Maturity Analysis For Derivative Financial Liabilities
MaturityAnalysisForDerivativeFinancialLiabilities
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">19</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Derivative Warrant Liability</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Issuance of 21,228,900 warrants in connection with merger</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,245,780</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">11,675,815</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value remeasurement of derivative warrant liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,931,592</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,430,035</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">314,188</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,245,780</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with IAS 32, a contract to issue a variable number of shares fails to meet the definition of equity and must instead be classified as a derivative liability and measured at fair value with changes in fair value recognized in the consolidated statement of comprehensive income at each reporting date. The derivative liabilities will ultimately be converted into the Group’s equity (ordinary shares) when the warrants are exercised or will be extinguished on the expiry of the outstanding warrants and will not result in the outlay of any cash by the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the completion of the business combination on December 20, 2019, each of Twelve Sea’s 21,229,000 outstanding warrants were converted into the Group’s warrants at 1:1 ratio. The warrants allow the holder to subscribe for the ordinary shares of the Company at 1:1 basis at an exercise price of USD 11.50. The warrants shall lapse and expire after five years from the closing of the business combination. The holders of the warrants issued pursuant to the business combination may elect, if the Group does not have an effective registration statement or the prospectus contained therein is not available for the issuance of the warrant shares to the holder, in lieu of exercising the warrants for cash, a cashless exercise option to receive a variable number of common shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At initial recognition on December 20, 2019, the Group recorded a derivative warrant liability of USD 16,983,200 based on the quoted price on December 20, 2019, of USD 0.8 per warrant and then revalued at USD 0.74 at December 31, 2019 resulting in a fair value gain of USD 1,273,740 and a warrant derivative liability of USD 15,709,460. These warrants were accounted for as part of the consideration transferred under IFRS 2.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 14, 2020, holders of 100 warrants have exercised their rights through cash exercise and converted the warrants into ordinary shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2023, the Group recorded a derivative warrant liability of USD 314,188 (December 31, 2022: USD 4,245,780) which resulted in a gain on revaluation of derivative warrant liability for the year ended December 31, 2023 of USD 3,931,592 (December 31, 2022: USD 7,430,035).</p> | |
| CY2023Q4 | ifrs-full |
Number Of Shares Outstanding
NumberOfSharesOutstanding
|
21228900 | shares |
| CY2023Q4 | brog |
Issuance Of Warrants In Connections With Merger
IssuanceOfWarrantsInConnectionsWithMerger
|
4245780 | usd |
| CY2022Q4 | brog |
Issuance Of Warrants In Connections With Merger
IssuanceOfWarrantsInConnectionsWithMerger
|
11675815 | usd |
| CY2023Q4 | brog |
Fair Value Remeasurement Of Derivative Warrant Liabilities
FairValueRemeasurementOfDerivativeWarrantLiabilities
|
3931592 | usd |
| CY2022Q4 | brog |
Fair Value Remeasurement Of Derivative Warrant Liabilities
FairValueRemeasurementOfDerivativeWarrantLiabilities
|
7430035 | usd |
| CY2023Q4 | brog |
Derivative Warrant Liability Current
DerivativeWarrantLiabilityCurrent
|
314188 | usd |
| CY2022Q4 | brog |
Derivative Warrant Liability Current
DerivativeWarrantLiabilityCurrent
|
4245780 | usd |
| CY2019Q4 | brog |
Outstanding Warrants
OutstandingWarrants
|
21229000 | shares |
| CY2019Q4 | ifrs-full |
Exercise Price Of Outstanding Share Options2019
ExercisePriceOfOutstandingShareOptions2019
|
11.5 | |
| CY2019Q4 | brog |
Warrants Expire Year
WarrantsExpireYear
|
P5Y | |
| CY2019Q4 | ifrs-full |
Derivative Financial Liabilities Undiscounted Cash Flows
DerivativeFinancialLiabilitiesUndiscountedCashFlows
|
16983200 | usd |
| CY2019Q4 | brog |
Derivative Per Warrant
DerivativePerWarrant
|
0.8 | |
| CY2019Q4 | brog |
Derivative Per Warrant
DerivativePerWarrant
|
0.74 | |
| CY2019Q4 | ifrs-full |
Gains On Change In Fair Value Of Derivatives
GainsOnChangeInFairValueOfDerivatives
|
1273740 | usd |
| CY2019Q4 | ifrs-full |
Derivative Financial Liabilities Undiscounted Cash Flows
DerivativeFinancialLiabilitiesUndiscountedCashFlows
|
15709460 | usd |
| CY2020Q2 | brog |
Exercised Warrants
ExercisedWarrants
|
100 | shares |
| CY2023Q4 | ifrs-full |
Derivative Financial Liabilities Undiscounted Cash Flows
DerivativeFinancialLiabilitiesUndiscountedCashFlows
|
314188 | usd |
| CY2022Q4 | ifrs-full |
Derivative Financial Liabilities Undiscounted Cash Flows
DerivativeFinancialLiabilitiesUndiscountedCashFlows
|
4245780 | usd |
| CY2023 | brog |
Gain On Revaluation
GainOnRevaluation
|
3931592 | usd |
| CY2022 | brog |
Gain On Revaluation
GainOnRevaluation
|
7430035 | usd |
| CY2023 | ifrs-full |
Disclosure Of Share Capital Reserves And Other Equity Interest Explanatory
DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">20</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Share Capital, Share Premium and Statutory Reserve</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">No. of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="text-decoration:underline">Authorized</span></td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Ordinary shares</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">450,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">450,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; font-weight: bold">Share Capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2023</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">88,035,353</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,804</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2022</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">88,035,353</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,804</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ordinary shares held in escrow (20,000,000 shares held by BPGIC PLC and 1,552,500 shares held by the original founders of Twelve Seas) have been excluded from the share capital in the table above. These shares will be released upon the satisfaction of certain financial milestones and share price targets below the release or forfeiture of these shares in the future will not have an effect on the equity of the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">One-half (½) of the Escrow Property shall become vested and no longer subject to forfeiture, and be released to the seller, in the event that either: (a) the Annualized EBITDA (as defined in the Escrow Agreement) for any full fiscal quarter during the Escrow Period (beginning with the first full fiscal quarter beginning after the Closing) (an “Escrow Quarter”) equals or exceeds USD 175,000,000 or (b) at any time during the Escrow Period, the closing price of the Brooge Energy Limited ordinary shares equals or exceeds USD 12.50 per share (subject to equitable adjustment) for any ten (10) Trading Days (as defined in the Escrow Agreement) within any twenty (20) Trading Day period during the Escrow Period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All Escrow Property remaining in the Escrow Account shall become vested and no longer subject to forfeiture, and be released to the seller, in the event that either: (a) the Annualized EBITDA for any Escrow Quarter equals or exceeds USD 250,000,000 or (b) at any time during the Escrow Period, the closing price of the Brooge Energy Limited ordinary shares equals or exceeds USD 14.00 per share (subject to equitable adjustment) for any ten (10) Trading Days within any twenty (20) Trading Day period during the Escrow Period. The Escrow Period represents the period commencing from the closing until the end of the twentieth (20th) fiscal quarter after the commencement date of the first full fiscal quarter beginning after the closing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold"><span style="text-decoration:underline;text-decoration: none">Share Premium</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">As at January 1</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">101,777,058</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">101,777,058</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As at December 31</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">101,777,058</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">101,777,058</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As required by the Articles of Association of BPGIC FZE, 10% of the profit for the year must be transferred to the statutory reserve. As at December 31, 2023, the statutory reserve equals to USD 680,643 (2022: USD 680,643).</p> | |
| CY2023Q4 | ifrs-full |
Number Of Shares Authorised
NumberOfSharesAuthorised
|
450000000 | shares |
| CY2023Q4 | ifrs-full |
Issued Capital Ordinary Shares
IssuedCapitalOrdinaryShares
|
450000000 | usd |
| CY2023Q4 | brog |
Share Capital Beginning Balance
ShareCapitalBeginningBalance
|
88035353 | shares |
| CY2023Q4 | brog |
Share Capital Balance
ShareCapitalBalance
|
8804 | usd |
| CY2022Q4 | brog |
Share Capital End Balance
ShareCapitalEndBalance
|
88035353 | shares |
| CY2022Q4 | brog |
Share Capital Balance
ShareCapitalBalance
|
8804 | usd |
| CY2023 | ifrs-full |
Increase Decrease In Number Of Ordinary Shares Issued
IncreaseDecreaseInNumberOfOrdinarySharesIssued
|
20000000 | shares |
| CY2023Q4 | ifrs-full |
Amount By Which Units Recoverable Amount Exceeds Its Carrying Amount
AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount
|
175000000 | usd |
| CY2023 | ifrs-full |
Dividends Paid Ordinary Shares Per Share
DividendsPaidOrdinarySharesPerShare
|
12.5 | |
| CY2022Q4 | ifrs-full |
Share Premium
SharePremium
|
101777058 | usd |
| CY2021Q4 | ifrs-full |
Share Premium
SharePremium
|
101777058 | usd |
| CY2023Q4 | ifrs-full |
Share Premium
SharePremium
|
101777058 | usd |
| CY2022Q4 | ifrs-full |
Share Premium
SharePremium
|
101777058 | usd |
| CY2023 | brog |
Profit Transferred Statutory Reserve
ProfitTransferredStatutoryReserve
|
0.10 | pure |
| CY2023Q4 | ifrs-full |
Statutory Reserve
StatutoryReserve
|
680643 | usd |
| CY2022Q4 | ifrs-full |
Statutory Reserve
StatutoryReserve
|
680643 | usd |
| CY2023 | ifrs-full |
Disclosure Of Related Party Explanatory
DisclosureOfRelatedPartyExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">21</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Transactions with Related Parties</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Related parties represent associated companies, shareholders, directors and key management personnel of the Group, and entities controlled, jointly controlled or significantly influenced by such parties. Pricing policies and terms of these transactions are approved by the Group’s audit committee.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Transactions with shareholder</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shareholder’s account is repayable at the discretion of the Board of Directors of the Group and are interest free, therefore classified as part of equity. Movement in shareholder’s account represent net of contributions by the shareholder and distributions to shareholder.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Transactions in shareholder’s account:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Repayments on behalf of the shareholder</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-67; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(626,029</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Changes in shareholders’ account is as follows:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As at January 1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,391,787</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,017,816</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net movements during the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-68; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(626,029</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As at December 31</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">70,391,787</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">70,391,787</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Transactions with other related parties</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline;text-decoration: none"> </span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Key management personnel remuneration</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,007,761</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,229,114</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">End of service benefits expense for key management</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202,295</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,862</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Related party balances as at the year-end are classified as under:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; padding-left: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.25in; margin: 0pt 0 0pt 0.25in"></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b>Related Party</b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0pt; text-indent: 0pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%">Shareholder</td><td style="width: 1%"> </td> <td style="width: 35%; text-align: left">Shareholder’s account (Equity)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">70,391,787</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">70,391,787</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">BPGIC Holdings Limited</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,322</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,136</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">HBS Investments LP</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,430</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,381</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">H Capital International LP</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,043</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,983</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">O2 Investments Limited as GP</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,851</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,272</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">SBD International LP</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,067</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,014</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">SD Holding Limited as GP</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,118</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,842</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Gyan Investments Ltd</td><td> </td> <td style="text-align: left">Due from related parties (shareholder)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,010</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">End of service benefits for key management personnel</td><td> </td> <td style="text-align: left">Employees’ end of service benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,204</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Salary payables for key management personnel</td><td> </td> <td style="text-align: left">Trade and accounts payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-69; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Brooge International Advisory LLC</td><td> </td> <td style="text-align: left">Other payable (other related parties)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,253,965</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>BIA</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to determine whether there exists a related party relationship with BIA in accordance to Paragraph (9) of International Accounting Standards (IAS 24). The Group considered the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Clause 3.4(v) of the Audit Committee (the “Committee”) Charter requires that the Committee review and approve all related-party transactions, defined as those transactions required to be disclosed under Item 7(b) of Form 20-F and NASDAQ Corporate Governance Rule 5630.</span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Clause 3 of the Related Party Transactions Policy of the Company states that, it is the responsibility of the Audit Committee to administer the Related Party Transactions Policy. </span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Commercial license of BIA with issue date of February 11, 2019, which mentions Mrs. Muktar (considered as one of the UBO for the Company) as a Partner in BIA.</span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Commercial license of BIA with issue date of February 10, 2020, which reflects the change in ownership of BIA, with Mrs. Muktar now being removed as a Partner in BIA. </span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Commercial license of BIA with issue date of April 12, 2021, which does not mention Mrs. Muktar as a Partner for BIA. </span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company announcement on November 20, 2019, (Form F4 Filed with the SEC) on the planned sale of Mrs. Muktar’s shares in BIA, Al Brooge International Advisory LLC will no longer be a related party.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is noted that Mrs. Hind has left BIA in her capacity as a shareholder somewhere between November 2019 and February 2020.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Committee has decided to be conservative on the BIA relationship and hence has considered BIA to be a related party throughout the years until further supporting documentation is obtained to prove otherwise.</p> | |
| CY2022 | brog |
Repayments On Behalf Of The Shareholder
RepaymentsOnBehalfOfTheShareholder
|
-626029 | usd |
| CY2022Q4 | brog |
Changesin Shareholders Amount
ChangesinShareholdersAmount
|
70391787 | usd |
| CY2021Q4 | brog |
Changesin Shareholders Amount
ChangesinShareholdersAmount
|
71017816 | usd |
| CY2022 | brog |
Net Movements During The Year
NetMovementsDuringTheYear
|
-626029 | usd |
| CY2023Q4 | brog |
Changesin Shareholders Amount
ChangesinShareholdersAmount
|
70391787 | usd |
| CY2022Q4 | brog |
Changesin Shareholders Amount
ChangesinShareholdersAmount
|
70391787 | usd |
| CY2023 | ifrs-full |
Disclosure Of Transactions Between Related Parties Explanatory
DisclosureOfTransactionsBetweenRelatedPartiesExplanatory
|
<span style="text-decoration:underline">Transactions with other related parties</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Key management personnel remuneration</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,007,761</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,229,114</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">End of service benefits expense for key management</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202,295</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,862</td><td style="text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Key Management Personnel Compensation
KeyManagementPersonnelCompensation
|
1007761 | usd |
| CY2022 | ifrs-full |
Key Management Personnel Compensation
KeyManagementPersonnelCompensation
|
1229114 | usd |
| CY2023 | brog |
End Of Service Benefits Expense For Key Management
EndOfServiceBenefitsExpenseForKeyManagement
|
202295 | usd |
| CY2022 | brog |
End Of Service Benefits Expense For Key Management
EndOfServiceBenefitsExpenseForKeyManagement
|
61862 | usd |
| CY2023 | ifrs-full |
Disclosure Of Commitments And Contingent Liabilities Explanatory
DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">22</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Commitments and Contingencies</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Bond waiver fees*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-70; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital commitments within one year**</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,964,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">53,500,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7,264,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">53,500,000</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">As explained in Note 15, the Group is in technical breach of certain covenants under the Bond Terms and is in discussion with certain significant bondholders for a waiver and expects to incur waiver fees. Further it should be noted that these Breaches do not constitute payment defaults as the Group has always met the Coupon and Instalment payments as per the Bond Terms.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Capital commitments relate to construction project relating to interconnection of pipelines between the Group’s existing facilities and the Group’s project Phase III early preparation works in Fujairah.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Class Action Lawsuit</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2024, a class action complaint was filed in the United States District Court for the Central District of California by Eric White against Brooge Energy Limited. The class action complaint contains substantial allegations concerning the materially false and misleading statements issued during the class period similar to those addressed in the Order Instituting Cease and Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, And Imposing Cease-And-Desist Orders entered by the United States Securities and Exchange Commission on December 22, 2023 In The Matter of Brooge Energy Limited.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Management believes that the Group’s exposure to this lawsuit is not material. Accordingly, no provisions have been made related to this lawsuit in these consolidated financial statements.</p> | |
| CY2023 | ifrs-full |
Disclosure Of Commitments Explanatory
DisclosureOfCommitmentsExplanatory
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Bond waiver fees*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-70; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital commitments within one year**</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,964,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">53,500,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7,264,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">53,500,000</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">As explained in Note 15, the Group is in technical breach of certain covenants under the Bond Terms and is in discussion with certain significant bondholders for a waiver and expects to incur waiver fees. Further it should be noted that these Breaches do not constitute payment defaults as the Group has always met the Coupon and Instalment payments as per the Bond Terms.</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Capital commitments relate to construction project relating to interconnection of pipelines between the Group’s existing facilities and the Group’s project Phase III early preparation works in Fujairah.</td> </tr></table> | |
| CY2023Q4 | brog |
Bond Waiver Fee
BondWaiverFee
|
4300000 | usd |
| CY2023Q4 | ifrs-full |
Lease Commitments For Shortterm Leases For Which Recognition Exemption Has Been Used
LeaseCommitmentsForShorttermLeasesForWhichRecognitionExemptionHasBeenUsed
|
2964000 | usd |
| CY2022Q4 | ifrs-full |
Lease Commitments For Shortterm Leases For Which Recognition Exemption Has Been Used
LeaseCommitmentsForShorttermLeasesForWhichRecognitionExemptionHasBeenUsed
|
53500000 | usd |
| CY2023Q4 | ifrs-full |
Capital Commitments
CapitalCommitments
|
7264000 | usd |
| CY2022Q4 | ifrs-full |
Capital Commitments
CapitalCommitments
|
53500000 | usd |
| CY2023 | ifrs-full |
Disclosure Of Earnings Per Share Explanatory
DisclosureOfEarningsPerShareExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">23</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Earnings Per Share</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic EPS is calculated by dividing the profit / (loss) for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Diluted EPS is calculated by dividing the profit / (loss) attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table reflects the income and share data used in the basic and diluted EPS calculations:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">(Loss) / profit attributable to ordinary equity holders of the parent</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(48,328,195</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">27,229,285</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average number of ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">88,035,353</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">88,035,353</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and diluted (loss) / earnings per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.55</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.31</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the business combination warrants and ordinary shares subjected to escrow have been issued. In the calculation of diluted earnings per shares, the warrants have been excluded as the average market price of ordinary shares during the period exceeded the exercise price of the warrants i.e. they are not in the money.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The number of contingently issuable shares (21,552,000 escrow shares) to be included in the diluted earnings per shares calculation is based on the number of shares that would be issuable if the end of the period were the end of the Escrow Period. No ordinary shares would have been issuable on December 31, 2023, as the conditions attached to the escrow shares have not been met at reporting date. As a result, the escrow shares have been excluded from the calculation of diluted earnings per share for December 31, 2023, and the weighted average number of ordinary shares for basic earnings per share and diluted earnings per shares are the same.</p> | |
| CY2023 | ifrs-full |
Earnings Per Share Explanatory
EarningsPerShareExplanatory
|
The following table reflects the income and share data used in the basic and diluted EPS calculations:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">(Loss) / profit attributable to ordinary equity holders of the parent</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(48,328,195</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">27,229,285</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average number of ordinary shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">88,035,353</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">88,035,353</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and diluted (loss) / earnings per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.55</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.31</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Profit Loss Attributable To Ordinary Equity Holders Of Parent Entity
ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity
|
-48328195 | usd |
| CY2022 | ifrs-full |
Profit Loss Attributable To Ordinary Equity Holders Of Parent Entity
ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity
|
27229285 | usd |
| CY2023 | ifrs-full |
Weighted Average Shares
WeightedAverageShares
|
88035353 | shares |
| CY2022 | ifrs-full |
Weighted Average Shares
WeightedAverageShares
|
88035353 | shares |
| CY2023 | ifrs-full |
Diluted Earnings Loss Per Share
DilutedEarningsLossPerShare
|
-0.55 | |
| CY2023 | ifrs-full |
Basic Earnings Loss Per Share
BasicEarningsLossPerShare
|
-0.55 | |
| CY2022 | ifrs-full |
Diluted Earnings Loss Per Share
DilutedEarningsLossPerShare
|
0.31 | |
| CY2022 | ifrs-full |
Basic Earnings Loss Per Share
BasicEarningsLossPerShare
|
0.31 | |
| CY2023 | brog |
Ordinary Shares Held Escrow
OrdinarySharesHeldEscrow
|
21552000 | shares |
| CY2023 | ifrs-full |
Disclosure Of Financial Risk Management Explanatory
DisclosureOfFinancialRiskManagementExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">24</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Financial Risk Management and Policies</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The main risks arising from the Group's financial instruments are interest rate risk, market risk, credit risk, currency risk and liquidity risk. Management reviews and agrees policies for managing each of these risks which are summarized below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Interest Rate Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s Bonds are issued at a fixed rate of interest. The Group’s exposure to the risk of changes in market interest rates relates primarily to the Group’s secured loan with floating interest rates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table demonstrates the sensitivity to a reasonably possible change in 3 months EIBOR, with all other variables held constant:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Increase/ (decrease) <br/> of months EIBOR</p></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Effect on profit<br/> for the year</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-align: left">2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">+1</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">71,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(71,304</td><td style="text-align: center">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">+1</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,622</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,622</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Market Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group’s activities expose it to the financial risks of changes in interest rates and price risk of the warrants. As the warrants are recognised at fair value on the consolidated statement of financial position of the Group, the Group’s exposure to market risks results from the volatility of the warrants price. The Warrants are publicly traded at the NASDAQ Stock Exchange.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the reporting date, the exposure to derivative warrant liability at fair value listed on the NASDAQ was USD 314,188 (2022: 4,245,780). The Group has determined that an increase/(decrease) of 30% on the NASDAQ could have an impact of approximately USD 94,256 increase/(decrease) on the income and equity attributable to the Group.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Currency Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group does not have any significant exposure to currency risk as most of its assets and liabilities are denominated in USD or AED (UAE Dirham) and AED is pegged to the USD.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Credit Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. The Group is exposed to credit risk on bank balances and receivables as reflected in the consolidated statement of financial position, with a maximum exposure equal to the carrying amount of these instruments. Credit quality of the customer is assessed as part of contract negotiations. Outstanding trade and other receivables are regularly monitored.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At each reporting date, the Group assesses whether financial assets not carried at fair value through profit or loss are credit impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Liquidity Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities and obligations as and when they fall due without having to face any losses which may adversely effect the Group's financial position and reputation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group manages its liquidity risk in relation to financial liabilities to ensure compliance with all covenants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below summarizes the maturity profile of the Group's financial liabilities at December 31 based on contractual undiscounted payments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">On demand</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than 3<br/> months</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">3 to 12<br/> months</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1-5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">> 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">As at December 31, 2023</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 28%; text-align: left">Borrowings (including accrued interest)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">163,606,250</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">127,882</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">373,983</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,550,206</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-71; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">165,658,321</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Other payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-72; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-73; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-74; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-75; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-76; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,760,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,118,649</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,895,151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">824,315,184</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">880,089,361</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and accounts payables (excluding accrued interest)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-77; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,733,961</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-78; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-79; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-80; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,733,961</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">293,606,250</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">39,622,220</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6,492,632</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">48,445,357</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">824,315,184</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,212,481,643</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Borrowings (including accrued interest)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,103,750</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">134,152</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">393,712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,850,189</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,882</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177,683,685</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-81; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,506,062</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,249,336</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,808,047</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">846,079,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">891,642,661</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and accounts payables (excluding accrued interest)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-82; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,427,197</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-83; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-84; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-85; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,427,197</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">175,103,750</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">16,067,411</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6,643,048</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">38,658,236</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">846,281,098</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,082,753,543</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Changes In Liabilities Arising From Financing Activities</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Below is the movement of liabilities arising from financing activities of the Group for the years ended December 31:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at<br/> January 1</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cash <br/> inflow</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cash <br/> outflow</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest <br/> paid</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Others*</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at<br/> December 31</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">2023</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 28%; text-align: left">Borrowings (including accrued interest)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">177,294,288</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-86; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(14,396,134</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(15,102,898</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">17,606,995</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">165,402,251</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,873,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-87; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,137,362</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-88; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,255,265</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,991,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Borrowings (including accrued interest)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,781,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,105,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,926,355</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,223,888</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,557,822</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177,294,288</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89,781,180</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-89; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,305,777</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-90; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,398,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,873,411</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The “Others” column mainly represents interest accrued, amortizations and costs associated with the organization of borrowings.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Capital Management</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The primary objective of the Group's capital management is to ensure that it maintains healthy capital ratios in order to support its business and maximize shareholder’s value and to meet its loan covenants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Group may adjust future distribution policy to shareholders, issue new shares or shareholders’ contributions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Group includes within net debt, the lease liabilities, borrowings, and accrued interest, less restricted bank balances, cash and cash equivalents. Equity includes share capital, statutory reserve, retained earnings / accumulated losses and shareholders’ accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Borrowings (including accrued interest)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">165,402,251</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">177,294,288</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,991,314</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,873,411</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: restricted bank balances, cash and cash equivalents</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28,414,502</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(16,759,981</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">228,979,063</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">251,407,718</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total equity</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">56,766,497</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">105,094,692</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total equity and net debt</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">285,745,560</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">356,502,410</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gearing ratio</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (Adjusted EBITDA)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management has presented the performance measure adjusted EBITDA because it monitors this performance measure at a consolidated level and it believes that this measure is relevant to an understanding of the Group’s and the Group’s financial performance. Adjusted EBITDA is calculated by adjusting net profit or loss to exclude the impact of taxation, interests, depreciation, amortisation, impairments, expected credit losses, write-offs, changes in fair values, other non-cash, extraordinary and one-off items.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Adjusted EBITDA is not a defined performance measure in IFRS Accounting Standards. The Group’s definition of adjusted EBITDA may not be comparable with similarly titled performance measures and disclosures by other entities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Reconciliation of adjusted EBITDA to profit or loss</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline;text-decoration: none"> </span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">(Loss) / profit for the year</td><td style="width: 1%"> </td> <td style="width: 11%; text-align: center; padding-left: 5.4pt"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(48,328,195</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">27,229,285</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Adjustments for:</td><td> </td> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation of property, plant and equipment</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">7</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,656,056</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,615,658</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest on borrowings</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">9</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,606,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,177,769</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest on lease liabilities</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">9</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,086,680</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,043,214</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in fair value of derivative financial instruments</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">13</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,653,296</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,840,379</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation - accretion expense</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">9</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,040</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,859</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Litigation settlement</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">18</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,746,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-91; font-family: Times New Roman, Times, Serif">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected credit losses of trade accounts receivables</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">8</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,202,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-92; font-family: Times New Roman, Times, Serif">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-off of advances to contractor</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">8, 14</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,006,262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-93; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SEC settlement charges</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">8</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-94; font-family: Times New Roman, Times, Serif">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-off of trade accounts receivables</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">8</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">927,519</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-95; font-family: Times New Roman, Times, Serif">Nil</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in estimated fair value of derivative warrant liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,931,592</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,430,035</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Adjusted EBITDA</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">79,693,228</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">53,861,371</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Disclosure Of Defined Benefit Plans Explanatory
DisclosureOfDefinedBenefitPlansExplanatory
|
The following table demonstrates the sensitivity to a reasonably possible change in 3 months EIBOR, with all other variables held constant:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Increase/ (decrease) <br/> of months EIBOR</p></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Effect on profit<br/> for the year</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-align: left">2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">+1</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">71,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(71,304</td><td style="text-align: center">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">+1</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,622</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,622</td><td style="text-align: left">)</td></tr> </table> | |
| CY2023Q4 | brog |
Derivative Warrant Liability
DerivativeWarrantLiability
|
314188 | usd |
| CY2022Q4 | brog |
Derivative Warrant Liability
DerivativeWarrantLiability
|
4245780 | usd |
| CY2023 | brog |
Derivative Increasedecrease
DerivativeIncreasedecrease
|
0.30 | pure |
| CY2023 | ifrs-full |
Increase Decrease Through Change In Equity Of Subsidiaries
IncreaseDecreaseThroughChangeInEquityOfSubsidiaries
|
94256 | usd |
| CY2023Q4 | brog |
Borrowingsincluding Accrued Interest
BorrowingsincludingAccruedInterest
|
165658321 | usd |
| CY2023Q4 | ifrs-full |
Other Payables
OtherPayables
|
130000000 | usd |
| CY2023Q4 | ifrs-full |
Liabilities Arising From Financing Activities
LiabilitiesArisingFromFinancingActivities
|
880089361 | usd |
| CY2023Q4 | ifrs-full |
Trade And Other Payables
TradeAndOtherPayables
|
36733961 | usd |
| CY2023Q4 | ifrs-full |
Financial Liabilities
FinancialLiabilities
|
1212481643 | usd |
| CY2022Q4 | brog |
Borrowingsincluding Accrued Interest
BorrowingsincludingAccruedInterest
|
177683685 | usd |
| CY2022Q4 | ifrs-full |
Liabilities Arising From Financing Activities
LiabilitiesArisingFromFinancingActivities
|
891642661 | usd |
| CY2022Q4 | ifrs-full |
Trade And Other Payables
TradeAndOtherPayables
|
13427197 | usd |
| CY2022Q4 | ifrs-full |
Financial Liabilities
FinancialLiabilities
|
1082753543 | usd |
| CY2023Q4 | ifrs-full |
Borrowings
Borrowings
|
165402251 | usd |
| CY2022Q4 | ifrs-full |
Borrowings
Borrowings
|
177294288 | usd |
| CY2023Q4 | brog |
Lease Liability
LeaseLiability
|
91991314 | usd |
| CY2022Q4 | brog |
Lease Liability
LeaseLiability
|
90873411 | usd |
| CY2023Q4 | ifrs-full |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
28414502 | usd |
| CY2022Q4 | ifrs-full |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
16759981 | usd |
| CY2023Q4 | ifrs-full |
Net Debt
NetDebt
|
228979063 | usd |
| CY2022Q4 | ifrs-full |
Net Debt
NetDebt
|
251407718 | usd |
| CY2023Q4 | brog |
Total Capital
TotalCapital
|
56766497 | usd |
| CY2022Q4 | brog |
Total Capital
TotalCapital
|
105094692 | usd |
| CY2023Q4 | brog |
Capital And Net Debt
CapitalAndNetDebt
|
285745560 | usd |
| CY2022Q4 | brog |
Capital And Net Debt
CapitalAndNetDebt
|
356502410 | usd |
| CY2023Q4 | brog |
Percentage Of Gearing Ratio
PercentageOfGearingRatio
|
0.80 | pure |
| CY2022Q4 | brog |
Percentage Of Gearing Ratio
PercentageOfGearingRatio
|
0.71 | pure |
| CY2023 | ifrs-full |
Profit Loss
ProfitLoss
|
-48328195 | usd |
| CY2022 | ifrs-full |
Profit Loss
ProfitLoss
|
27229285 | usd |
| CY2023 | brog |
Depreciation Of Property Plant And Equipment
DepreciationOfPropertyPlantAndEquipment
|
12656056 | usd |
| CY2022 | brog |
Depreciation Of Property Plant And Equipment
DepreciationOfPropertyPlantAndEquipment
|
12615658 | usd |
| CY2023 | ifrs-full |
Interest Expense On Borrowings
InterestExpenseOnBorrowings
|
17606995 | usd |
| CY2022 | ifrs-full |
Interest Expense On Borrowings
InterestExpenseOnBorrowings
|
22177769 | usd |
| CY2023 | ifrs-full |
Interest Expense On Lease Liabilities
InterestExpenseOnLeaseLiabilities
|
3086680 | usd |
| CY2022 | ifrs-full |
Interest Expense On Lease Liabilities
InterestExpenseOnLeaseLiabilities
|
3043214 | usd |
| CY2023 | brog |
Changes In Fair Value Of Derivative Financial Instruments
ChangesInFairValueOfDerivativeFinancialInstruments
|
-3653296 | usd |
| CY2022 | brog |
Changes In Fair Value Of Derivative Financial Instruments
ChangesInFairValueOfDerivativeFinancialInstruments
|
3840379 | usd |
| CY2023 | brog |
Asset Retirement Obligation Accretion Expense Amount
AssetRetirementObligationAccretionExpenseAmount
|
68040 | usd |
| CY2022 | brog |
Asset Retirement Obligation Accretion Expense Amount
AssetRetirementObligationAccretionExpenseAmount
|
65859 | usd |
| CY2023 | brog |
Litigation Settlement
LitigationSettlement
|
55746035 | usd |
| CY2023 | brog |
Expected Credit Losses Of Trade Accounts Receivables
ExpectedCreditLossesOfTradeAccountsReceivables
|
18202132 | usd |
| CY2023 | brog |
Writeoff Of Advances To Contractor
WriteoffOfAdvancesToContractor
|
15006262 | usd |
| CY2023 | brog |
Sec Settlement Charges
SECSettlementCharges
|
5000000 | usd |
| CY2023 | brog |
Writeoff Of Trade Accounts Receivables
WriteoffOfTradeAccountsReceivables
|
927519 | usd |
| CY2023 | brog |
Change In Estimated Fair Value Of Derivative Warrant Liability Amount
ChangeInEstimatedFairValueOfDerivativeWarrantLiabilityAmount
|
-3931592 | usd |
| CY2022 | brog |
Change In Estimated Fair Value Of Derivative Warrant Liability Amount
ChangeInEstimatedFairValueOfDerivativeWarrantLiabilityAmount
|
-7430035 | usd |
| CY2023 | ifrs-full |
Other Comprehensive Income Net Of Tax Exchange Differences On Translation
OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation
|
79693228 | usd |
| CY2022 | ifrs-full |
Other Comprehensive Income Net Of Tax Exchange Differences On Translation
OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation
|
53861371 | usd |
| CY2023 | ifrs-full |
Disclosure Of Entitys Reportable Segments Explanatory
DisclosureOfEntitysReportableSegmentsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">25</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Segment Reporting</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group determines its operating segments based on the nature of their operations. The performance of the operating segments is assessed by management on a regular basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the reporting dates, the Group has only one reportable segment - oil storage and related services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The remaining operating segments (investment properties and renewable energy) have been aggregated and presented as other operating segment due to their insignificance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially all of the Group’s operations and assets are located in the United Arab Emirates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table represents information about revenues and net profit / (loss), assets and liabilities of operating segments of the Group for the years ended December 31, 2023, and 2022:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-size: 9pt; vertical-align: bottom"> <td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; padding-left: 0.125in"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Oil storage<br/> and related<br/> services</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> operating<br/> segment</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments<br/> and<br/> eliminations</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-size: 9pt; font-weight: bold; text-align: center">Consoli-dated</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Oil storage<br/> and related<br/> services</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> operating<br/> segment</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments<br/> and<br/> eliminations</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-size: 9pt; font-weight: bold; text-align: center">Consoli-dated</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Revenue</td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; width: 24%; text-align: left">External customers</td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">105,695,648</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-96; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-97; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">105,695,648</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">81,540,776</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-98; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-99; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">81,540,776</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in">Inter-segment</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-100; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">884,835</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">(884,835</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-101; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">612,578</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">(612,578</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-102; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil </span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Total Revenue</td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">105,695,648</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">884,835</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">(884,835</td><td style="font-size: 9pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">105,695,648</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">81,540,776</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">612,578</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">(612,578</td><td style="font-size: 9pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">81,540,776</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Depreciation of property, plant and equipment</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(13,289,473</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(111,032</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">744,449</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(12,656,056</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(12,523,131</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(92,527</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-103; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(12,615,658</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on borrowings</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(17,424,761</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(182,234</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(17,606,995</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(22,048,383</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(129,386</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-104; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(22,177,769</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on lease liabilities</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,392,118</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-105; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">305,438</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,086,680</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,043,214</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-106; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-107; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,043,214</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Changes in fair value of derivative financial instruments</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,653,296</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-108; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-109; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,653,296</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">3,840,379</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-110; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-111; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">3,840,379</td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Asset retirement obligation - accretion expense</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(68,040</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-112; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-113; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(68,040</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(65,859</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-114; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-115; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(65,859</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Litigation settlement</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(55,746,035</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-116; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-117; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(55,746,035</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-118; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-119; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-120; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-121; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Expected credit losses of trade accounts receivables</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(18,202,132</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-122; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-123; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(18,202,132</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-124; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-125; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-126; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-127; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Write-off of advances to contractor</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(15,006,262</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-128; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-129; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(15,006,262</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-130; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-131; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-132; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-133; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Write-off of trade accounts receivables</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(927,519</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-134; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-135; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(927,519</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-136; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-137; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-138; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-139; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Change in estimated fair value of derivative warrant liability</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">3,931,592</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-140; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-141; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">3,931,592</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">7,430,035</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-142; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-143; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">7,430,035</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">(Loss) / profit for the year</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(48,626,082</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">65,830</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">232,057</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(48,328,195</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">27,230,804</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(1,519</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-144; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nil</b></span></td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">27,229,285</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Assets of the segment</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">559,911,354</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,371,209</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(77,298,516</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">485,984,047</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">549,054,357</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,185,417</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(78,637,927</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">473,601,847</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Liabilities of the segment</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">430,135,412</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,846,198</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(2,764,060</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">429,217,550</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">366,384,681</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,190,538</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(68,064</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">368,507,155</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Other disclosures</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Capital expenditures</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">13,278,355</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-145; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-146; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">13,278,355</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">19,193,314</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-147; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-148; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">19,193,314</td><td style="font-size: 9pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inter-segment revenues are eliminated upon consolidation and reflected in the ‘adjustments and eliminations’ column.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2023, the Group generated 80% of its revenues from five major customers (2022: 59%).</p> | |
| CY2023 | brog |
Reportable Segment
ReportableSegment
|
1 | pure |
| CY2023 | ifrs-full |
Disclosure Of Operating Segments Explanatory
DisclosureOfOperatingSegmentsExplanatory
|
The following table represents information about revenues and net profit / (loss), assets and liabilities of operating segments of the Group for the years ended December 31, 2023, and 2022:<table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-size: 9pt; vertical-align: bottom"> <td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; padding-left: 0.125in"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Oil storage<br/> and related<br/> services</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> operating<br/> segment</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments<br/> and<br/> eliminations</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-size: 9pt; font-weight: bold; text-align: center">Consoli-dated</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Oil storage<br/> and related<br/> services</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> operating<br/> segment</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-size: 9pt; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments<br/> and<br/> eliminations</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-size: 9pt; font-weight: bold; text-align: center">Consoli-dated</td><td style="white-space: nowrap; font-size: 9pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Revenue</td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td colspan="2" style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; width: 24%; text-align: left">External customers</td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">105,695,648</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-96; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-97; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">105,695,648</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">81,540,776</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-98; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-99; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 0.5%"> </td> <td style="font-size: 9pt; width: 0.5%; text-align: left"> </td><td style="font-size: 9pt; width: 8%; text-align: right">81,540,776</td><td style="font-size: 9pt; width: 0.5%; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in">Inter-segment</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-100; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">884,835</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">(884,835</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-101; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">612,578</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">(612,578</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-102; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil </span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Total Revenue</td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">105,695,648</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">884,835</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">(884,835</td><td style="font-size: 9pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">105,695,648</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">81,540,776</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">612,578</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">(612,578</td><td style="font-size: 9pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold"> </td> <td style="font-size: 9pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; text-align: right">81,540,776</td><td style="font-size: 9pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Depreciation of property, plant and equipment</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(13,289,473</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(111,032</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">744,449</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(12,656,056</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(12,523,131</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(92,527</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-103; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(12,615,658</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on borrowings</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(17,424,761</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(182,234</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(17,606,995</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(22,048,383</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(129,386</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-104; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(22,177,769</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on lease liabilities</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,392,118</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-105; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">305,438</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,086,680</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,043,214</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-106; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-107; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,043,214</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Changes in fair value of derivative financial instruments</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,653,296</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-108; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-109; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(3,653,296</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">3,840,379</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-110; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-111; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">3,840,379</td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Asset retirement obligation - accretion expense</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(68,040</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-112; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-113; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(68,040</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(65,859</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-114; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-115; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(65,859</td><td style="font-size: 9pt; text-align: left">)</td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Litigation settlement</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(55,746,035</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-116; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-117; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(55,746,035</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-118; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-119; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-120; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-121; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Expected credit losses of trade accounts receivables</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(18,202,132</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-122; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-123; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(18,202,132</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-124; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-125; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-126; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-127; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Write-off of advances to contractor</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(15,006,262</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-128; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-129; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(15,006,262</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-130; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-131; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-132; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-133; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Write-off of trade accounts receivables</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(927,519</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-134; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-135; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">(927,519</td><td style="font-size: 9pt; text-align: left">)</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-136; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-137; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-138; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-139; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Change in estimated fair value of derivative warrant liability</td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">3,931,592</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-140; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-141; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">3,931,592</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">7,430,035</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-142; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-143; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 1.5pt solid; text-align: right">7,430,035</td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">(Loss) / profit for the year</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(48,626,082</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">65,830</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">232,057</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(48,328,195</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">27,230,804</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(1,519</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-144; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nil</b></span></td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">27,229,285</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Assets of the segment</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">559,911,354</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,371,209</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(77,298,516</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">485,984,047</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">549,054,357</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,185,417</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(78,637,927</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">473,601,847</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Liabilities of the segment</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">430,135,412</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,846,198</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(2,764,060</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">429,217,550</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">366,384,681</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,190,538</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">(68,064</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="font-size: 9pt; font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="font-size: 9pt; border-bottom: Black 4pt double; font-weight: bold; text-align: right">368,507,155</td><td style="font-size: 9pt; padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: White"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Other disclosures</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"> </td><td style="font-size: 9pt; text-align: left"> </td></tr> <tr style="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 9pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Capital expenditures</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">13,278,355</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-145; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-146; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">13,278,355</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">19,193,314</td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-147; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right"><span style="-sec-ix-hidden: hidden-fact-148; font-family: Times New Roman, Times, Serif; font-size: 10pt">Nil</span></td><td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt; text-align: left"> </td><td style="font-size: 9pt; text-align: right">19,193,314</td><td style="font-size: 9pt; text-align: left"> </td></tr> </table> | |
| CY2023 | ifrs-full |
Percentage Of Entitys Revenue
PercentageOfEntitysRevenue
|
0.80 | pure |
| CY2023 | ifrs-full |
Information About Major Customers
InformationAboutMajorCustomers
|
five | |
| CY2022 | ifrs-full |
Percentage Of Entitys Revenue
PercentageOfEntitysRevenue
|
0.59 | pure |
| CY2023 | ifrs-full |
Disclosure Of Fair Value Of Financial Instruments Explanatory
DisclosureOfFairValueOfFinancialInstrumentsExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">26</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Fair Value of Financial Instruments</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management considers that the fair value of all financial assets and financial liabilities in the consolidated financial statements approximate their carrying amounts at the reporting date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Derivative warrant liability is allocated to Level 1 in the fair value hierarchy. The fair value has been determined in accordance with quoted price. Borrowings are allocated to Level 2 in the fair value hierarchy. The fair value has been determined in accordance with generally accepted pricing models based on a discounted cash flow analysis. All other financial instruments of the Group are allocated to Level 3 in the fair value hierarchy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were no transfers between levels.</p> | |
| CY2023 | ifrs-full |
Disclosure Of Comparative Information Prepared Under Previous Gaap Explanatory
DisclosureOfComparativeInformationPreparedUnderPreviousGAAPExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">27</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Comparative Figures</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain of the prior year figures have been regrouped to conform with the presentation of the current period. The Group changed the presentation of its consolidated financial statements as new presentation provides information that is more relevant to users of the consolidated financial statements. Mainly, the Group presented ‘restricted bank balance’ and ‘contract liabilities’ separately in the consolidated statement of financial position. These reclassifications did not have any impact on the consolidated financial statements of the Group. The management believes that such presentation is more transparent as they reflect the nature of such amounts.</p> | |
| CY2023 | ifrs-full |
Disclosure Of Events After Reporting Period Explanatory
DisclosureOfEventsAfterReportingPeriodExplanatory
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.5in; text-align: left"><b><span style="text-decoration:underline">28</span></b></td><td style="text-align: justify"><b><span style="text-decoration:underline">Subsequent Events</span></b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 3, 2024, the Group paid a liability of USD 5,000,000 related to SEC settlement obligation (Note 16).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 4, 2022, the Group filed a court case against its customer for recovery of USD 3,313,538 and associated costs and received verdict in its favor. On July 17, 2024, the UAE court of appeal made a final decision in the Group’s favor and retained the initial decision without change.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 2, 2024, the Group held an extraordinary general meeting of shareholders. As a result of the meeting, the Group’s new board of directors appointed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 3, 2023, Brooge Energy Limited announced receiving a formal proposal submitted by Gulf Navigation Holdings PJSC (GulfNav), the Dubai Financial Market listed maritime and shipping company, to acquire fully all of the businesses and assets from Brooge Energy Limited. On September 20, 2024, Brooge Energy Limited executed a term sheet that reflects the principal terms of the acquisition. The term sheet outlines the foundational elements of a potential sale and purchase agreement.</p> | |
| CY2023 | dei |
Entity Registrant Name
EntityRegistrantName
|
BROOGE ENERGY LIMITED | |
| CY2022 | brog |
Litigation Settlement
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|
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| CY2023 | ifrs-full |
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|
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| CY2022 | ifrs-full |
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|
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|
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Expected Credit Losses Of Trade Accounts Receivables
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|
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Writeoff Of Advances To Contractor
WriteoffOfAdvancesToContractor
|
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Sec Settlement Charges
SECSettlementCharges
|
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| CY2022 | brog |
Writeoff Of Trade Accounts Receivables
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|
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Proceeds From Borrowings Classified As Financing Activities
ProceedsFromBorrowingsClassifiedAsFinancingActivities
|
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Movement In Shareholders Account
MovementInShareholdersAccount
|
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Expected Credit Loss On Trade Accounts Receivables Note11
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|
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|
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Escrow Amount
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|
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|
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Writeoff Of Advances To Contractors
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|
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|
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|
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|
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Reasonable Recovery
ReasonableRecovery
|
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| CY2023 | brog |
Property Plant And Equipment Reclassified
PropertyPlantAndEquipmentReclassified
|
usd | |
| CY2023 | ifrs-full |
Increase Decrease Through Other Changes Property Plant And Equipment
IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment
|
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Reclassified During The Year
ReclassifiedDuringTheYear
|
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| CY2022 | brog |
Advances Writeoff
AdvancesWriteoff
|
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| CY2022Q4 | brog |
Share Of Debt Instruments Issued That Are Included In Insurers Regulatory Capital
ShareOfDebtInstrumentsIssuedThatAreIncludedInInsurersRegulatoryCapital
|
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| CY2022Q4 | brog |
Sec Settlements Obligation
SECSettlementsObligation
|
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Repayments On Behalf Of The Shareholder
RepaymentsOnBehalfOfTheShareholder
|
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| CY2023 | brog |
Net Movements During The Year
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|
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Bond Waiver Fee
BondWaiverFee
|
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| CY2022 | brog |
Litigation Settlement
LitigationSettlement
|
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| CY2022 | brog |
Expected Credit Losses Of Trade Accounts Receivables
ExpectedCreditLossesOfTradeAccountsReceivables
|
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| CY2022 | brog |
Writeoff Of Advances To Contractor
WriteoffOfAdvancesToContractor
|
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| CY2022 | brog |
Sec Settlement Charges
SECSettlementCharges
|
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| CY2022 | brog |
Writeoff Of Trade Accounts Receivables
WriteoffOfTradeAccountsReceivables
|
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| CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
| CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001774983 |
