v3.25.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies [Abstract]  
Schedule of Commitments and Contingencies
   2024   2023 
         
Bond waiver fees*   Nil    4,300,000 
Capital commitments within one year**   2,964,000    2,964,000 
    2,964,000    7,264,000 

 

*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.

 

**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.