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Notes to the Financial Statements
32 COMMITMENTS
Capital commitment
The Group entered into contracts to develop or refurbish certain investment properties. At 31 December 2011, the
commitment under those contracts amounted to $44.8 million (2010: $8.6 million).
Operating leases
The Group leases out its investment properties. Non-cancellable operating lease rentals are receivable as follows:
2011
2010
$’000
$’000
Receivable:
– within 1 year
91,108
66,027
– after 1 year but within 5 years
142,297
83,681
– after 5 years
49,267
5,491
282,672
155,199
The Group leases out its investment properties to tenants under lease agreements for periods ranging from 6 months
to 10 years with options granted to certain tenants to renew their leases.
33 SUBSEQUENT EVENTS
(1)
Pursuant to the rules of the TCT Unit Option Scheme, the Trust granted 575,000 TCT unit options at an exercise
price of $3.10 per unit on 26 January 2012. 375,000 of the 575,000 unit options granted are exercisable from 1
January 2013 to 31 December 2015, both dates inclusive. The remaining 200,000 unit options are exercisable
from 1 March 2013 to 31 December 2015, both dates inclusive.
(2)
On 7 March 2012, TCT announced that Beijing Logistics Park had been placed on the market for sale following
the achievement of 100% leasing pre-commitment for the property which is scheduled for completion in the
second quarter of 2012.
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3/23/2012
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