Annual Report 2019

211 ANNUAL REPORT 2019 34. LEASE LIABILITIES 2019 HK$’million Lease liabilities payable as at 31 December 2019: Within 1 year 84 Between 1 and 2 years 34 Between 2 and 5 years 13 More than 5 years 871 1,002 Less: Amount due for settlement with 12 months shown under current liabilities (84) Amount due for settlement after 12 months shown under non-current liabilities 918 The lease liabilities ranged from 1 to 35 years, depending on the classes of assets rented. The Group does not have a significant liquidity risk with regard to its lease liabilities. Lease liabilities are monitored within the Group’s treasury function. The Group’s weighted average incremental borrowing rate for lease liabilities as at 31 December 2019 is 5.26%. Lease liabilities of HK$1,002 million are recognised with related right-of-use assets of HK$879 million as at 31 December 2019. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor and the relevant leased assets may not be used as security for borrowing purposes. Details of the lease maturity analysis of the Group’s lease liabilities are set out in note 3.1(iii).