notes to the financial statements - Investor Relations

CWT Limited
130
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2011
43 COMMITMENTS (CONT’D)
At the reporting date, the Group and the Company had commitments for future minimum lease payments under noncancellable
operating leases as follows:
Group Company
2011 2010 2011 2010
$’000 $’000 $’000 $’000
Within 1 year 79,873 74,725 62,131 61,696
After 1 year but within 5 years 169,434 216,919 135,171 186,734
After 5 years 89,934 81,862 60,428 62,877
339,241 373,506 257,730 311,307
The Group and the Company contracted out part of their leasehold buildings to clients under logistic contracts. The contracts
typically run for an initial period of 1 to 8 years. Rates are revised at renewal of contract to reflect market rate. None of the
contracts include contingent payment. The non-cancellable contract payment receivables are as follows:
Group Company
2011 2010 2011 2010
$’000 $’000 $’000 $’000
Within 1 year 57,235 17,237 53,816 14,415
After 1 year but within 5 years 14,434 6,519 13,369 6,103
After 5 years 649 – 649 –
72,318 23,756 67,834 20,518
44 RELATED PARTIES
For the purposes of these financial statements, parties are considered to be related to the Group where there are direct
relationships involving control, joint control or significant influence and excludes those entities for which the relationship
with the Group is such that a person has significant influence over one entity, and a close family member of that person has
significant influence over the other entity.