Interim Report 2023

53 INTERIM REPORT 2023 18. FINANCIAL RISK MANAGEMENT (CONTINUED) (ii) Fair value estimation (continued) (b) Fair value of financial assets and financial liabilities that are not measured at fair value on a recurring basis (but fair value disclosures are required) Except for notes payable, the directors of the Company consider that the carrying amounts of financial assets and financial liabilities recorded at amortised cost in the condensed consolidated interim financial information approximate their fair values at the end of the reporting period. 19. COMMITMENTS AND CONTINGENT LIABILITIES (a) Capital commitments for property, plant and equipment and intangible assets that are contracted but not provided for 30 June 31 December 2023 2022 HK$’million HK$’million Group Property, plant and equipment and intangible assets 993 1,375 Joint ventures Property, plant and equipment 3 32 996 1,407 (b) Capital commitments for investments that are contracted but not provided for 30 June 31 December 2023 2022 HK$’million HK$’million Group Ports projects 6 6 Logistics hub project 461 — Joint ventures Land development project 12 13 479 19