FINANCIAL STATEMENTS - Mewah Group

ANNUAL REPORT 2012NOTES TOTHE FINANCIAL STATEMENTSFor the financial year ended 31 December 201231. COMMITMENTS(a) Capital commitmentsCapital expenditures contracted for at the statement of financial position date but not recognised in the financial statements are asfollows:Group2012 2011US$’000US$’000Property, plant and equipment 54,387 40,063(b) Operating lease commitments - where the Group is a lesseeThe Group leases office premises and equipments from non-related parties under non-cancellable operating lease agreements. Theleases have varying terms, escalation clauses and renewal rights.The future minimum lease payables under non-cancellable operating leases contracted for at the statement of financial position datebut not recognised as liabilities, are as follows:Group2012 2011US$’000US$’000Not later than one year 415 333Between one and five years 1,385 1,186Later than five years 4,544 3,984(c) Operating lease commitments - where the Group is a lessor6,344 5,503The Group leases out office space under its leasehold buildings to non-related parties under non-cancellable operating leases.The future minimum lease receivables under non-cancellable operating leases contracted for at the statement of financial position datebut not recognised as receivables, are as follows:Group2012 2011US$’000 US$’000Not later than one year 72 364Between one and five years 50 293Later than five years - 130122 78791