The Group as lessee
Operating leases relate to leases of premises and land with lease term between 5 to 20 years. The Group does not have an option to purchase the leased land at the expiry of the lease periods.
|
|
|
Year ended December 31, |
|
||||
|
|
|
2015 |
|
2016 |
|
2017 |
|
|
|
|
Thousand USD |
|
Thousand USD |
|
Thousand USD |
|
|
Minimum lease payments paid under operating leases |
|
1,095 |
|
4,040 |
|
4,283 |
|
|
|
|
|
|
|
|
|
|
At the end of each reporting period, the Group had commitments for future minimum lease payments under non-cancellable operating leases which fall due as follows:
|
|
|
At December 31, |
|
||||
|
|
|
2015 |
|
2016 |
|
2017 |
|
|
|
|
Thousand USD |
|
Thousand USD |
|
Thousand USD |
|
|
Within one year |
|
4,040 |
|
4,468 |
|
4,420 |
|
|
In the second to fifth years inclusive |
|
15,060 |
|
15,154 |
|
15,266 |
|
|
Over five years |
|
52,698 |
|
79,172 |
|
44,594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
71,798 |
|
98,794 |
|
64,280 |
|
|
|
|
|
|
|
|
|
|
The Group as lessor
Operating leases relate to the investment property owned by the Group with lease term of 20 years. The lessee does not have an option to purchase the investment property at the expiry of the lease period. At the end of each reporting period, the Group had non-cancellable operating lease receivables as follows:
|
|
|
At December 31, |
|
||||
|
|
|
2015 |
|
2016 |
|
2017 |
|
|
|
|
Thousand USD |
|
Thousand USD |
|
Thousand USD |
|
|
Within one year |
|
182 |
|
196 |
|
195 |
|
|
In the second to fifth years inclusive |
|
786 |
|
782 |
|
780 |
|
|
Over five years |
|
2,838 |
|
2,585 |
|
3,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,806 |
|
3,563 |
|
4,313 |
|
|
|
|
|
|
|
|
|
|
For IPP solar parks in certain countries consists of an operating lease, there is no minimum lease payment since all lease payment is contingent based on actual volume of electricity produced. The contingent rental income the Company recognized amounts to USD7.9 million and USD4.3 million for the year ended December 31, 2016 and 2017, respectively.