OPERATING LEASES

Operating lease commitments

The group has a number of lease agreements with varying terms and conditions.  The future aggregated minimum lease payments under these leases are as follows:

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The subsidiary company, Fiji Television Limited entered into a new satellite services agreement in the previous financial year. At inception of the arrangement, this was determined not to contain a lease as the fulfilment of the arrangement is not dependent on the use of a specified asset or assets. Nonetheless, the commitments under this arrangement have been included in the above lease and other commitment disclosure.

Other lease arrangements include operating lease rentals with parties external to the group for rental of office space and retail outlets.

Operating lease commitments – where a group company is the lessor

The group leases certain properties at varying terms and conditions. The future minimum lease payments receivable under these leases are as follows:

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FHL News Letter – March 2021

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