Notes to the Financial Statements
31 December 2015
31.
Commitments
(a)
Operating lease commitments – as lessee
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3 years (2014: 6 months to 3 years) with no renewal option or contingent rent provision included in the
contract. The Group is restricted from subleasing the leased properties to third parties.
Future minimum rental payable under non-cancellable operating lease at the end of the reporting period
are as follows:
(b)
Operating lease commitments – as lessor
The Group has entered into commercial property leases on its investment properties.
Future minimum rental receivables under non-cancellable operating leases at the end of the reporting
period are as follows:
(c)
Finance lease commitments
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DQG HVFDODWLRQ FODXVH 5HQHZDO LV DW WKH RSWLRQ RI WKH VSHFLȴF HQWLW\ WKDW KROGV WKH OHDVH
)XWXUH PLQLPXP OHDVH SD\PHQWV XQGHU WKH ȴQDQFH OHDVH WRJHWKHU ZLWK WKH SUHVHQW YDOXH RI WKH QHW
minimum lease payments are as follows:
Group
2015
2014
S$’000
S$’000
Not later than one year
267
214
/DWHU WKDQ RQH \HDU EXW QRW ODWHU WKDQ ȴYH \HDUV
ȫ
214
267
428
Group
2015
2014
S$’000
S$’000
Not later than one year
186
8,469
/DWHU WKDQ RQH \HDU EXW QRW ODWHU WKDQ ȴYH \HDUV
286
–
472
8,469
2015
2014
Maturity
Minimum
lease
payments
Present
value of
payments
(Note 25)
Minimum
lease
payments
Present
value of
payments
(Note 25)
S$’000
S$’000
S$’000
S$’000
Not later than one year
2016
53
51
–
–
Later than one year
EXW QRW ODWHU WKDQ ȴYH \HDUV
2017
13
13
–
–
Total minimum lease payments
66
64
–
–
Less:
Amounts representing
ȴQDQFH FKDUJHV
(2)
–
–
–
Present value of
minimum lease payments
64
64
–
–
ANNUAL REPORT 2015
79
