Annual Report 2012 - singapore land limited

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Singapore Land Limited - Annual Report 2012
NOTES TO THE FINANCIAL STATEMENTS
For the fi nancial year ended 31 December 2012
27. COMMITMENTS
(a)
Capital commitments
The Group
2012 2011
$’000 $’000
Capital expenditure contracted for but not recognised
in the fi nancial statements in respect of:
- investment properties 14,638 1,838
- property, plant and equipment - 1,664
14,638 3,502
(b)
Operating lease commitments - where the Group is a lessee
The Group leases certain space under non-cancellable operating lease agreements. The leases have varying
terms, escalation clauses and renewal rights.
The future minimum lease payables under non-cancellable operating leases contracted for at the statement
of fi nancial position date but not recognised as liabilities, are as follows:
The Group
2012 2011
$’000 $’000
Not later than 1 year 291 319
Between 1 and 5 years 282 563
573 882
(c)
Operating lease commitments - where the Group is a lessor
The Group has entered into commercial property leases on its investment property portfolio, consisting of the
Group’s offi ce buildings and a retail mall.
The future minimum lease receivables under non-cancellable operating leases contracted for at the statement
of fi nancial position date but not recognised as receivables, are as follows:
The Group
2012 2011
$’000 $’000
Not later than 1 year 195,366 199,183
Between 1 and 5 years 212,722 228,620
Later than 5 years 254 -
408,342 427,803