Annual Report 2012 - ecoWise Holdings Limited

138ecoWise Holdings Limitedannual report 201231 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS33. CAPITAL COMMITMENTSAt the end of the reporting year, the Group and the Company had the following capital commitments:GroupCompany2012 2011 2012 2011$’000 $’000 $’000 $’000Contracted but not recognisedAcquisition of property,plant and equipment 237 3,713 – –Authorised but not contractedCommitments to acquire equity interests – 3,994 – 3,99434. OPERATING LEASE COMMITMENTSThe Group leases various offices, land and factory premises, plant and machinery, workers’ quarters undernon-cancellable operating lease arrangements. The lease terms are between 1 to 10 years. Majority of thelease arrangements are renewable at the end of the lease periods at market rates.The future aggregate minimum lease payments under non-cancellable operating leases are as follows:GroupCompany2012 2011 2012 2011$’000 $’000 $’000 $’000Not later than one year 540 545 174 174Later than one year and not laterthan five years 810 825 85 242Later than five years 351 421 – –Operating lease expensesfor the reporting year 1,345 1,292 174 176