China Communications Services Corporation Limited Annual Report 2015
132
NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2015
17. INVESTMENT PROPERTIES
(continued)
The Group leases out its properties under operating leases. The leases typically run for period of one year to ten years, with
an option to renew the lease after that date at which time all terms are renegotiated. None of the leases includes
contingent rentals. At the end of the reporting period, the Group’s total future minimum lease payments under non-
cancellable operating leases were receivable as follows:
2015
2014
RMB’000
RMB’000
Within 1 year
195,957
130,681
After 1 year but within 5 years
218,975
234,272
After 5 years
39,227
15,311
As at 31 December
454,159
380,264
During the year ended 31 December 2015, RMB107 million (2014: RMB149 million) has been recognised as rental income
in the consolidated statement of profit or loss and RMB38 million (2014: RMB32 million) in respect of direct operating
expenses relating to investment properties has been recognised as expenses in the consolidated statement of profit or loss.
Up to the date of these financial statements, the Group is still in the process of applying for or changing registration of the
title certificates of certain of its properties with an aggregate carrying value of approximately RMB38 million as at 31
December 2015 (2014: RMB30 million). The directors of the Company are of the opinion that the Group is entitled to
lawfully and validly occupy or use the above mentioned properties.
18. CONSTRUCTION IN PROGRESS
2015
2014
RMB’000
RMB’000
Cost:
As at 1 January
234,890
207,111
Additions
259,865
229,553
Disposals
(2,692)
(913)
Transfer to other intangible assets (note 21)
(55,242)
(33,922)
Transfer to property, plant and equipment (note 16)
(75,844)
(166,485)
Impairment loss
—
(454)
As at 31 December
360,977
234,890
