29.
COMMITMENTS AND CONTINGENT LIABILITIES
Operating lease commitments
The Group and the Company as lessee
As at the balance sheet date, the Group and the Company have commitments for rental payable in
subsequent accounting periods as follows:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Future minimum lease payments
Within one financial year
5,536
5,931
5,452
5,466
After one financial year but within
five financial years
17,310
23,654
17,308
22,249
After five financial years
2,143
3,048
2,143
3,048
24,989
32,633
24,903
30,763
The above operating lease commitments are based on existing rates. The lease agreements provide
for a periodic revision of such rates in the future and renewal options. There are no contingent
rents included in the agreements or restrictions on subleasing the premises, warehouse and office
equipment.
The Group and the Company as lessor
As at the balance sheet date, the Group and the Company have contracted with their tenants for
the following future minimum lease payments:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Within one financial year
5,271
4,095
3,058
1,546
After one financial year but within
five financial years
1,333
2,822
1,215
1,202
6,604
6,917
4,273
2,748
Capital commitments
As at balance sheet date, the Group and the Company had no capital commitments.
107
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
