NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
22.
OTHER FINANCIAL LIABILITIES (CONT’D)
22C.
Finance leases
Minimum
payments
Finance
charges
Present
value
Group
$’000
$’000
$’000
2015
Minimum lease payments payable:
Due within one year
415
(77)
338
Due within 2 to 5 years
364
(10)
354
Due after 5 years
1,514
(195)
1,319
Total
2,293
(282)
2,011
Minimum
payments
Finance
charges
Present
value
$’000
$’000
$’000
2014
Minimum lease payments payable:
Due within one year
41
(2)
39
Due within 2 to 5 years
664
(85)
579
Due after 5 years
1,240
(331)
909
Total
1,945
(418)
1,527
Finance lease represents Build, Operate and Transfer (“BOT”) fees payable.
PT Cibubur Utama
PT Cibubur Utama (“Cibubur”) entered into a BOT agreement with Perusahaan Daerah Pembangunan Sarana Jaya
DKI Jakarta (“Sarana”). Cibubur has the right to build, operate and transfer the property for a period of 20 years
commencing July 2005 and the first priority to extend the agreement.
Cibubur has the following payment obligations to Sarana:
(a)
US$2,260,000 including VAT that is to be paid by instalments from the year 2004 until 2024 as follows:
(i)
US$75,500 per year for the first 5 years;
(ii)
US$100,500 per year for the second 5 years;
(iii)
US$125,500 per year for the third 5 years; and
(iv)
US$150,500 per year for the fourth 5 years.
The pegged rate of payment shall be US$1 equal to Rp. 8,500.
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