Page 159 - URA Annual Report 2020-21

(expressed in Hong Kong Dollars)
19. Provident fund scheme
The Group provides retirement benefits to its eligible employees under defined contribution schemes. In accordance with the Mandatory Provident Fund Schemes Ordinance, the eligible employees enjoy retirement benefits under the Mandatory Provident Fund Exempted ORSO Scheme or the Mandatory Provident Fund Scheme (the “Schemes”) under which employer’s voluntary contributions have been made. The assets of the Schemes are held separately from those of the Group and managed by independent administrators. The Group normally makes voluntary contributions ranging from 5% to 10% of the employees’ monthly salaries depending on the years of service of the employees.
The total amount contributed by the Group into the Schemes for the year ended 31 March 2021 was $34,550,000 (2019/20: $30,348,000), net of forfeitures of $1,089,000 (2019/20: $963,000), which has been charged to the Group’s profit or loss for the year.
20. Commitments
(a) Capital commitments
Capital commitments in respect of acquisition of property, plant and equipment at 31 March 2021 are as follows:
Contracted but not yet incurred Authorised but not contracted for
(b) Operating lease rental receivable
2021 2020 $’000 $’000
156,889 71,904 - 177
156,889 72,081
As at 31 March 2021, undiscounted lease payments under non-cancellable operating leases in place in respect of properties will be receivable by the Group in future periods, except for those commercial portions jointly developed by the developer and the Group, are as follows:
Within 1 year
After 1 year but within 2 years After 2 years but within 3 years After 3 years but within 4 years After 4 years but within 5 years
2021 $’000
29,914 22,734 6,716 2,595 520
62,479
2020 $’000
26,309 22,717 8,865 3,621 1,455
62,967
URA ANNUAL REPORT 2020-21
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