Change - S P Setia Berhad

139
S P Setia Berhad Group
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2008
48. OPERATING LEASE COMMITMENTS
The Group as lessee
The Group leases premises from various parties under operating leases. These leases are cancellable and typically run for a period
ranging from 1 to 3 years, with the option to renew the leases after the expiry dates. None of the leases includes contingent
rentals. There are no restrictions placed upon the Group by entering into these leases.
Jointly controlled entities of the Group lease office under non-cancellable operating lease agreement. The Group’s share of the
non-cancellable operating lease rentals payable are as follows:
2008 2007
RM’000
RM’000
Not later than one year 360 118
Later than one year but not later than 5 years 136 108
496 226
The Group as lessor
The Group leases out its investment properties under cancellable operating leases. With the exception of 1 operating lease which
run for 30 years, these leases typically run for a period of 1 to 20 years with the option to renew the leases after the expiry date.
None of the leases include contingent rentals.
The future aggregate minimum lease payments receivable under the non-cancellable operating lease contracted for as at balance
sheet date but not recognised as assets are as follows:
Group
2008 2007
RM’000
RM’000
Not later than one year 8,834 –
Later than one year but not later than five years 35,337 –
Later than five years 220,123 –
264,294 –