Interests in Joint Ventures

12 Months Ended

Apr. 30, 2023

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Interests in joint ventures

16. INTERESTS IN JOINT VENTURES

	2022		2023
	US$		US$
Cost of investments in joint ventures		—		68,317
Share of post-acquisition losses and other comprehensive expense		—		(485	)
Exchange realignment		—		(86	)
		—		67,746
Due from joint ventures		—		30,346
		—		98,092

Amounts due from joint ventures are unsecured, interest-free and repayable on demand.

Details of material joint ventures as at April 30, 2023 are as follows:

Name	Place of incorporation		Percentage of ownership interest held by the Company			Principal activity
DHI Holdings (S) Pte Ltd.		Singapore		51	%	Hotel operations, hospitality and VIP services in Singapore

The following table illustrates the summarised financial information in respect of the joint ventures adjusted for any differences in accounting policies and reconciled to the carrying amount in the consolidated financial statements:

	As of April 30, 2023
	US$
Total assets		359,533
Total liabilities		(226,698	)
Net assets		132,835
Proportion of the Group’s ownership		51	%
Group’s share of net assets of joint ventures		67,746
Due from joint ventures		30,346
Interests in joint ventures		98,092
Addition information of the joint ventures
Cash and cash equivalents		16,009
Amounts due to shareholders		(57,914	)
Bank borrowings		(162,257	)

	February 6, 2023 to April 30, 2023
	US$
Revenue		6,100
Loss for the period		(785	)
Other comprehensive expense for the period		(165	)
Total comprehensive expense for the period		(950	)
Addition information of the joint ventures
Depreciation of property, plant and equipment		2,378
Interest expenses		2,722