100
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
21.
FINANCE LEASE PAYABLES
As at balance sheet date, the Group has obligations under finance leases that are repayable as
follows:
Minimum
lease
payments
Future
finance
charges
Present
value
of lease
payments
$’000
$’000
$’000
Group
2014
Within one financial year
46
(2)
44
After one financial year but less than
five financial years
24
(1)
23
70
(3)
67
2013
Within one financial year
71
(5)
66
After one financial year but less than
five financial years
69
(4)
65
140
(9)
131
As at 31 December 2014 and 31 December 2013, the Company has no obligations under finance
leases.
Lease terms range from one to four years (2013: one to five years) with options to purchase at the
end of the lease term. Interest is payable at average effective interest rates of 3.00% to 3.30% (2013:
3.00% to 3.30%) per annum.
