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NOTES TO
FINANCIAL STATEMENTS (CONT’D)
31 March 2015
8 FINANCE LEASE RECEIVABLES
Present value
of minimum
Minimum lease payments
2015 2014
lease payments $’000 $’000
2015 2014
$’000 $’000
Group and University Company
Amounts receivable under finance leases:
Within one year 1,440 1,190 937 668
In the second to fifth year inclusive 5,760 5,760 3,987 3,891
After fifth year 18,779 20,219 16,114 17,147
25,979 27,169 21,038 21,706
Less: Unearned finance income
Present value of minimum lease payments (4,941) (5,463)
receivable
21,038 21,706
The net investment in finance lease receivables are analysed as follows:
Group and
University Company
2015 2014
$’000 $’000
Current finance lease receivables 937 668
(recoverable within 12 months) 20,101 21,038
Non-current finance lease receivables
(recoverable after 12 months)
21,038 21,706
This relates to the lease of land and building to NTU Alumni Club over a lease period of 26 years.
62 NTU ANNUAL REPORT 2015
