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Notes To The Consolidated Financial Statements
(Expressed in Renminbi)
1
/ China Communications Services Corporation Limited
18 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 balance sheet date, the Group’s total future minimum lease
payments under non-cancellable operating leases were receivable as follows:
The Group
2011
2010
RMB’000
RMB’000
Within 1 year
94,138
51,106
After 1 year but within 5 years
128,953
88,605
After 5 years
11,944
22,637
235,035
162,348
During the year ended 31 December 2011, RMB104 million (2010: RMB69 million) has been recognised as
rental income in the consolidated income statement and RMB30 million (2010: RMB22 million) in respect
of direct operating expenses relating to investment properties has been recognised as expenses in the
consolidated income statement.
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
RMB56 million as at 31 December 2011 (2010: RMB66 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.
19 Construction in progress
The Group
The Company
2011
2010
2011
2010
RMB’000
RMB’000
RMB’000
RMB’000
Cost:
As at 1 January
154,234
73,334
11,759
1,580
Additions
192,191
232,216
856
10,321
Disposals
(164)
–
–
–
Transfer to property, plant and equipment
(note 17)
(118,403)
(151,316)
(7,126)
(142)
As at 31 December
227,858
154,234
5,489
11,759