NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
36 CAPITAL COMMITMENTS
Capital commitments not provided for in the financial statements are analysed as follows:
Group
2014
2013
$’000
$’000
Property, plant and equipment
1,020
732
Investment properties
96,954*
3,582
Associates
–
4,339
97,974
8,653
* For 2014, the amount relates to the retail development in Chongqing, China (note 23(b)).
37 LEASE COMMITMENTS
Operating Lease Commitments
(a)
For Lessor
The Group and Company have entered into property lease agreements on their investment properties and completed
development properties for sale. These non-cancellable leases have remaining non-cancellable lease terms of up to
3 years. Contingent lease receipts are subject to the revenue exceeding a level stated in the respective agreements.
Certain property lease agreements have renewal options of up to 3 years, and restrict any assignment and subletting
of the lease properties.
Contingent lease receipts recognised in profit or loss at Group level amounted to $8,000 (2013: $7,000).
Future minimum lease receivable under non-cancellable operating leases are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Not later than 1 year
6,761
18,764
1,637
1,476
Later than 1 year but not later than 5 years
4,117
8,256
1,648
1,115
10,878
27,020
3,285
2,591
139
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
