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18. NON-CURRENT LIABILITIES Ð BORROWINGS (cont'd)(b)when the TOP has been issued and the ®rst disbursement of the loan following the date ofthe issue of TOP is made between the 1 st and 10 th day of the month, the ®rst instalment willbe due on the ®rst day of the following month. When such disbursement of the loan ismade between the 11 th and 31 st of the month, the ®rst instalment will be due on the ®rstday of the following second month.The loan amount outstanding as at the balance sheet date relates to the amount disbursed bythe bank during the period towards the progressive payment for the property under development(Note 14).Subsequent to the year-end, the Company swapped the above property with the propertysituated at 9 Ubi Crescent (Landed Terrace Plot 13) Ubi Techpark, Singapore. Refer to note 23to the ®nancial statements for more details.19. SHARE CAPITALAuthorisedIssued and fully paid2001 2000 2001 2000$ $ $ $Ordinary shares of $1 each 3,000,000 1,000,000 2,600,000 600,000On 30 June 2000, the Company increased its authorised share capital from $1,000,000 to$3,000,000 by the creation of 2,000,000 ordinary shares of $1 each. The Company alsoincreased its issued share capital from $600,000 to $2,600,000 by the issue of 2,000,000ordinary shares of $1 each satis®ed by capitalising the loans from the shareholders. The newlyissued shares rank pari pasu in all material respects with the previously issued shares.20. FINANCE LEASESAmounts payable under ®nance leases are as follows:±2001 2000$ $Not later than one ®nancial year 136,196 130,043Later than one ®nancial period but not later than ®ve ®nancial years 145,829 118,963Minimum lease payments 282,025 249,006Less: Future ®nance charges (45,377) (44,653)Provided for in the ®nancial statements 236,648 204,353Representing lease liabilities:Current (Note 17) 114,887 107,723Non-current (Note 18) 121,761 96,630236,648 204,353E-14