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Notes to the Consolidated Financial Statements

31st March 2015

34 COMMITMENTS (continued)

(b) Operating lease commitments (as lessee)

The future aggregate minimum lease payments under non-cancellable operating leases in respect
of land and buildings are as follows:

Group
2015 2014
HK$’000 HK$’000

Not later than one year 35,165 35,613
Later than one year and not later than five years 139,017 139,574
Later than five years 326,267 366,381

500,449 541,568

(c) Operating lease commitments (as lessor)

The Group leases various properties under non-cancellable operating lease agreements. The
leases have varying terms, escalation clauses and renewal rights.

The future aggregate minimum lease rental receivables under non-cancellable operating leases in
respect of land and buildings are as follows:

Group
2015 2014
HK$’000 HK$’000
Not later than one year 4,370 7,680
Later than one year and not later than five years 336 5,264

4,706 12,944

The lease terms are from one to three years.

ALCO HOLDINGS LIMITED ANNUAL REPORT 2015 93