NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
22.
OTHER FINANCIAL LIABILITIES (CONT’D)
22C.
Finance leases (cont’d)
PT Griya Inti Sejahtera Insani
PT Griya Inti Sejahtera Insani (“PT GISI”) entered into a BOT agreement with Government of South Sumatra Province.
PT GISI has the right to build, operate and transfer the property for a period of 30 years commencing April 2010.
PT GISI has the following obligations:
(a)
Rp.20,604,677,199 that is to be paid by instalments on a yearly instalment from the year March 2012
until 2039; and
(b)
40% from the net parking income received by PT GISI each year.
The fixed rate of interest for finance leases is 14% (2014: 14%) per year. The finance lease is on fixed repayment
term and no arrangements have been entered into for contingent rental payments.
The carrying amount of the lease liabilities is not significantly different from the fair value.
23.
OTHER LIABILITIES, NON-CURRENT
Group
2015
2014
$’000
$’000
Advance payments by tenants
83,306
86,009
This relates to the rental received in advance from certain tenants.
24.
TRADE AND OTHER PAYABLES, CURRENT
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Trade payables:
Outside parties and accrued liabilities
12,738
20,998
6,057
11,616
Related parties (Note 3)
37,101
37,958
–
–
Subtotal
49,839
58,956
6,057
11,616
Other payables:
Loan payable to a subsidiary
(1)
–
–
576,074
480,738
Subsidiaries (Note 3)
–
–
116,989
116,109
Other payables
10,366
12,026
–
457
Subtotal
10,366
12,026
693,063
597,304
Total trade and other payables, current
60,205
70,982
699,120
608,920
(1)
This amount is for loan payable to LMIRT Capital Pte Ltd of $576,074,000 (2014: $480,738,000) mainly
from the proceeds of the Programmes (Note 22B). The loan payable agreements provide that they are
unsecured, with fixed interest rates ranging from 4.10% to 5.875% (2014: 4.25% to 5.875%) per annum
and repayable on demand. The carrying amount is a reasonable approximation of fair value (Level 2).
ANNUAL REPORT 2015
121
