Annual Report 2019

220 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 30 Commitments (a) Capital commitments (i) At 31 December 2019, the Group had the following capital commitments in relation to the purchase of other property, plant and equipment not provided for in the financial statements: 2019 2018 $’ 000 $’ 000 Contracted for 1,223,266 533,234 (ii) At 31 December 2019, the Group’s share of capital commitments of the joint operation in respect of investment property under development not provided for in the financial statements was as follows: 2019 2018 $’ 000 $’ 000 Contracted for 2,186,632 144,675 (b) Operating leases commitments At 31 December 2018, the total future minimum lease payments of the Group under non-cancellable operating leases were payable as follows: 2018 $’ 000 Within 1 year 4,342 After 1 year but within 5 years 4,286 8,628 The Group is the lessee in respect of a number of properties held under leases which were previously classified as operating leases under HKAS 17. The Group has initially applied HKFRS 16 using the modified retrospective approach. Under this approach, there are no adjustments to the opening balances of equity at 1 January 2019 to recognise lease liabilities relating to these leases (see note 1(c)). From 1 January 2019 onwards, future lease payments are recognised as lease liabilities in the consolidated statement of financial position in accordance with the policies set out in note 1(l), and the details regarding the Group’s future lease payments are disclosed in note 26.