notes to the
financial statements
31 December 2015
32.
Capital expenditure commitments
Capital expenditure contracted for at the end of the reporting year but not recognised in the financial statements are
as follows:
Group
Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Commitments in respect of contracts placed for
the purchase of property, plant and equipment
–
11,923
–
–
Commitments in respect of the construction of
building
405
–
405
–
405
11,923
405
–
33.
Operating lease payment commitments – as lessee
The Group has entered into lease agreements for office premises and equipment. These leases, of which some are
cancellable, have remaining lease terms of between 1 to 5 (2014: 1 to 5) years and some of these leases have renewal
options or escalation clauses included in the contracts. There are no restrictions placed upon the Group by entering
into these leases.
Future minimum lease payments payable under operating leases at the end of the reporting year are as follows:
Group
Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Not later than one year
3,769
3,649
1,923
1,923
Later than one year and not later than five years
6,750
9,105
4,478
6,401
10,519
12,754
6,401
8,324
34.
Operating lease income commitments – as lessor
The Group has entered into lease agreements for office premises and machinery. These non-cancellable leases have
remaining lease terms of 4 (2014: 5) years with no renewal option or escalation clauses included in the contracts.
Future minimum lease payments receivable under operating leases at the end of the reporting year are as follows:
Group
Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Not later than one year
756
822
–
–
Later than one year and not later than five years
2,263
3,472
–
–
3,019
4,294
–
–
35.
Contingent liabilities
The Group has provided corporate guarantees to banks amounting to $33,796,000 (2014: $27,834,000) in connection
with banking facilities granted to its subsidiaries.
• e x p e r i e n c i n g
k i n g s m e n
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