United Energy Group Limited - HKExnews

UNITED ENERGY GROUP LIMITED
Notes to the Financial Statements
For the nine months ended 31 December 2009
32. OPERATING LEASE COMMITMENTS
At the end of reporting periods the total future minimum lease payments under non-cancellable operating leases
are payable as follows:
At 31 At 31
December 2009 March 2009
HK$’000
HK$’000
Within one year 3,258 3,079
In the second to fifth years inclusive 209 2,476
3,467 5,555
Operating lease payments represent rental payable by the Group for certain of its offices, staff and director’s
quarters. Leases are negotiated for an average term of 3 years and rentals are fixed over the lease terms and do
not include contingent rentals.
33. RETIREMENT BENEFITS SCHEME
Hong Kong
The Group participates in the mandatory provident fund scheme (the “MPF Scheme”) established under the MPF
Scheme Ordinance. The assets of the MPF Scheme are held separately from those of the Group in funds under the
control of an independent trustee. Under the rules of the MPF Scheme, the employer and its employees are each
required to make contributions to the scheme at rates specified in the rules. The only obligation of the Group with
respect to the MPF Scheme is to make the required contributions under the scheme. No forfeited contributions are
available to reduce contributions payable in future years.
The Group’s contribution under the MPF Scheme for the period ended 31 December 2009 amounted to
approximately HK$52,000 (for the year ended 31 March 2009: HK$80,000).
PRC
According to the relevant laws and regulations in the PRC, the Group’s subsidiaries in the PRC are required to
contribute a specified percentage of the payroll of their employees to the retirement benefits schemes to fund the
retirement benefits of their employees. The only obligation of the Group with respect to the retirement benefits
schemes is to make the required contributions under the respective schemes.
The Group’s contribution under the respective schemes for the period ended 31 December 2009 amounted to
approximately HK$265,000 (for the year ended 31 March 2009: HK$158,000).
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