117
A N N U A L R E P O R T 2 0 1 6
For the Financial Year Ended 31 March 2016
NOTES TO THE
FINANCIAL STATEMENTS
30.
Commitments and contingencies (cont¡¯d)
(c)
Finance lease commitments (cont¡¯d)
Future minimum lease payments under finance leases together with the present value of the net minimum lease payments are as
follows:
2016
2015
Group
Minimum lease
payments
Present value
of payments
Minimum lease
payments
Present value
of payments
$¡¯000
$¡¯000
$¡¯000
$¡¯000
Not later than one year
125
110
129
110
Later than one year but not later than five years
289
279
414
389
Total minimum lease payments
414
389
543
499
Less: Amounts representing finance charges
(25)
¨C
(44)
¨C
Present value of minimum lease payments
389
389
499
499
31.
Related party transactions
Related parties are entities with common direct or indirect shareholders and/or Directors. Parties are considered to be related if one party
has the ability to control the other party or exercise significant influence over the other party in making financial and operating decision.
Some of the Group¡¯s transactions and arrangements are with related parties and the effects of these as determined between the parties are
reflected in these financial statements.
