i'mpact Singapore Tourism Board Annual Report 2010/2011

NOTES TO THE FINANCIAL STATEMENTS
31 March 2011
(b)
Operating lease arrangements - as lessor
STB has entered into tourism-related property leases. These leases have remaining non-cancellable lease terms of
between 1 and 14 years. Rental income earned during the year was $2,326,729 (2009/2010 : $2,178,639).
Future minimum lease payments receivable under non-cancellable operating leases as at 31 March are as follows:
2010/2011 2009/2010
$’000 $’000
Within one year 1,982 1,673
In the second to fifth years inclusive 1,360 750
After five years 543 698
3,885 3,121
(c)
Capital commitments
2010/2011 2009/2010
$’000 $’000
Commitments for capital expenditure contracted but not provided for in the
financial statements 222,886 198,149
(d)
During this financial year, STB guaranteed Singapore GP Pte Ltd for a standby letter of credit issued by a bank for the
purpose of the payment of the 2011 F1 race franchise fees.
24 LITIGATIONS
During the financial year 2008/2009, Children’s Media Limited (“CML”) and Anthony David Hollingsworth (“Hollingsworth”) filed
an appeal against a judgment that the Singapore Court has delivered in favour of STB. On 14 November 2008, the Singapore
Court of Appeal dismissed the appeal and ordered that Hollingsworth and CML pay the costs of the appeal to STB.
The case has reached a conclusion in Singapore upon the issuance of a final judgment by Singapore’s Court of Appeal. The
financial statements for the year ended 31 March 2011 have not been adjusted for the potential recovery of damages as these
cannot be reasonably estimated.
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