Page 170 - S P Setia Annual Report 2013
P. 170

168 | Financial Statements S P SETIA BERHAD GROUP Annual Report 2013





NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2013 (CONT’D)






42. OPeRatinG leaSe cOmmitmentS (cOnt’D)

Future minimum rentals payable under non-cancellable operating leases at the reporting date are as follows:
2013 2012
Rm’000 Rm’000

Not later than one year 945 1,749
Later than one year but not later than fve years 218 665
1,163 2,414

The Group as lessor

The Group leases out its investment properties under cancellable operating leases. These leases typically run for a period of 2 to 3 years with
the option to renew upon expiry. None of the leases include contingent rentals. Certain of the leases include contingent rental arrangements
computed based on sales achieved by tenants.
Future minimum rentals receivable under non-cancellable operating leases at the reporting date are as follows:

Group
2013 2012
Rm’000 Rm’000

Not later than one year 38,703 32,542
Later than one year but not later than fve years 38,820 59,413
Later than fve years 100,532 104,004
178,055 195,959



43. OtHeR cOmmitmentS
Group
2013 2012
Rm’000 Rm’000


Commitments to purchase development land
- Contracted
- Mukim Beranang, Daerah Ulu Langat, Negeri Selangor - 297,117
- Seksyen 2, Town of Jelutong, District of Timor Laut, Pulau Pinang - 73,804
- Mukim 12, District of Barat Daya, Pulau Pinang 12,303 12,303
- Seksyen 4, Town of Jelutong, District of Timor Laut, Pulau Pinang 3,593 -
- Lai Thieu Town, Thuan An District, Binh Duong Province, Vietnam - 1,644
- New Urban Zone, Tien Du District, Bac Ninh Province, Vietnam - 116,330
- Approved but not contracted - 22,857
Contractual commitment for construction of investment properties 18,982 64,946
Commitment to acquire property, plant and equipment
- Approved and contracted 3,947 1,850
Contractual commitments in relation to Development Agreement 100,000 -
138,825 590,851
   165   166   167   168   169   170   171   172   173   174   175