NOTES TO FINANCIAL STATEMENTS
December 31, 2015
35
OPERATING LEASE ARRANGEMENTS
The Group as leasee
GROUP
2015
2014
RMB’000
RMB’000
(Restated)
Minimum lease payments under operating leases recognised as an expense in the year
18,690
16,820
At the end of the reporting period, the Group has outstanding commitments under non-cancellable operating leases,
which fall due as follows:
GROUP
2015
2014
RMB’000
RMB’000
Within one year
18,051
16,698
In the second to fifth year inclusive
22,485
28,212
More than five years
17,531
15,737
58,067
60,647
Operating lease payments substantially represent rental payables by the Group in respect of land and buildings for its
office premises and staff accommodation. Leases are negotiated for an average term of less than 3 years (2014 : less
than 2 years).
The Group as lessor
The Group rents out its investment properties and certain completed properties for sale in the PRC under operating
leases. Property rental income earned during the year was RMB380 million (2014 : RMB424 million).
At the end of the reporting period, the Group has contracted with tenants for the following future minimum lease
receipts:
GROUP
2015
2014
RMB’000
RMB’000
(Restated)
Within one year
285,126
304,177
In the second to fifth year inclusive
607,570
605,904
More than five years
602,870
654,594
1,495,566
1,564,675
36
CAPITAL EXPENDITURE COMMITMENTS
Estimated amounts committed for future capital expenditure but not provided for in the financial statements:
GROUP
2015
2014
RMB’000
RMB’000
Investment properties
113,310
166,360
129
