Notes to the Consolidated Financial Statements - Uni-Asia Finance ...

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Uni-Asia Finance Corporation Annual Report 2009
Notes to the Consolidated Financial Statements
Year ended 31 December 2009
34. COMMITMENTS (continued)
(c)
Operating lease commitments - the Group as lessor
The Group has entered into commercial property leases on its investment properties and leases certain of its vessels under
construction under operating lease arrangements. These noncancellable leases have remaining lease terms of two years.
Future minimum rentals receivable under non-cancellable operating leases at the balance sheet date are as follows:
Rental income from investment properties
Group
2009 2008
US$’000 US$’000
Within one year 217 285
Later than one year and not later than five years 70 255
287 540
Future minimum chartering income receivable under non-cancellable operating leases at the balance sheet date are
as follows:
Chartering income from vessels under construction
Group
2009 2008
US$’000 US$’000
Within one year – 9,350
Later than one year and not later than five years – 83,676
Over five years – 58,223
– 151,249
(d)
Finance lease commitments
The Group has finance leases for certain items of hotel properties and office equipment, furniture and fixtures. These leases
have terms for renewal but no purchase options and escalation clauses.
Future minimum lease payments under finance leases together with the present value of net minimum lease payments are
as follows:
Group
Minimum lease
present value of
payments
payments
2009 2008 2009 2008
US$’000 US$’000 US$’000 US$’000
Within one year 9 113 9 100
Later than one year and not later than five years 11 249 11 228
Total minimum lease payments 20 362 20 328
Less: Amount representing finance charges (34) –
Present value of minimum lease payments 20 328 20 328