In this section
Financial Statements
Notes to the financial statements
for the year ended 31 December 2011
38 Commitments
(a) Operating lease commitments
The Group leases land and staff accommodation under various operating lease agreements. The remaining lease terms of the majority of the leases are between six and 23 years and are renewable at mutually agreed terms. The future minimum lease payments payable under operating leases are as follows:
| 2011 USD’000 | 2010 USD’000 | |
|---|---|---|
| Not later than one year | 10,239 | 6,886 |
| Later than one year but not later than five years | 13,986 | 10,816 |
| Later than five years | 46,580 | 31,108 |
| 70,805 | 48,810 |
(b) Other commitments
| Letters of credit for purchase of materials and operating equipment | 11,902 | 3,433 |
| Capital commitments for construction of facilities | 18,730 | 13,555 |
| Capital commitments for purchase of operating equipment and computer software | 4,165 | 2,416 |
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- Highlights 2011
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Download a PDF of the 2011 Annual Report