ESR Group Limited Annual Report 2023 215 Notes to the Consolidated Financial Statements 31 December 2023 37. CONTINGENT LIABILITIES As at 31 December 2023 and 2022, neither the Group nor the Company had any significant contingent liabilities. 38. PLEDGE OF ASSETS Details of the Group’s interest-bearing bank and other borrowings, which are secured by the assets of the Group, are included in note 25 to the financial statements. 39. COMMITMENTS (a) Operating lease commitments As lessor The Group leases out its completed investment properties under operating lease arrangements on terms ranging from one to ten years and with an option for renewal after the expiry dates, at which time all terms will be renegotiated. At 31 December 2023 and 2022, the Group had total future minimum leases receivable under noncancellable operating leases with its tenants falling due as stated in note 18. (b) Capital commitments As at 31 December 2023 As at 31 December 2022 US$’000 US$’000 Contracted, but not provided for investment properties 449,607 367,421 Contracted, but not provided for plant and machinery 8,709 7,636 Undrawn capital calls to real estate investment funds 1,675,211 1,300,989 2,133,527 1,676,046 CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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