Page 151 - Urban Renewal Authority 2023-24 Annual Report
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12. Cash and bank balances (Continued)
Reconciliation of liabilities arising from financing activities: (Continued)
Lease liabilities
2024 2023
$’000 $’000
At 1 April 41,529 62,960
Changes from financing cash flows:
– Capital element of lease rentals paid (37,825) (44,456)
– Interest element of lease rentals paid (3,564) (1,425)
Total changes from financing cash flows (41,389) (45,881)
Other changes:
– Increase in lease liabilities from entering into new leases
during the year 73,610 23,025
– Interest expense (Note 6(a)) 3,564 1,425
Total other changes 77,174 24,450
At 31 March 77,314 41,529
13. Properties held for sale
The Group’s properties held for sale are located in Hong Kong and their carrying amounts are analysed as
follows:
2024 2023
$’000 $’000
In Hong Kong, with remaining lease term of:
– 50 years or more 5,674 5,674
– between 10 and 50 years 511,838 862,791
517,512 868,465
URA ANNUAL REPORT 2023-24 149
