ESR Interim Report 2020 (EN)

Notes to Condensed Consolidated Financial Information 30 June 2020 63 NOTES TO CONDENSED CONSOLIDATED FINANCIAL INFORMATION ESR Interim Report 2020 20. 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 30 June 2020 and 31 December 2019, the Group had total future minimum lease receivable under non-cancellable operating leases with its tenants falling due as stated in note 13. (b) Capital commitments 30 June 2020 31 December 2019 (Unaudited) (Audited) US$’000 US$’000 Contracted, but not provided for investment properties 275,843 377,558 Authorised, but not contracted for investment properties – 10,855 Undrawn capital calls to real estate investment funds 844,046 360,179 1,119,889 748,592 21. RELATED PARTY TRANSACTIONS In addition to the transactions and balances detailed elsewhere in the financial information, the Group had the following material transactions with related parties during the six months ended 30 June 2020 and 2019: (a) Transactions with related parties: For the six months ended 30 June 2020 2019 (Unaudited) (Audited) US$’000 US$’000 Associates: – Management fee income (note(i)) 7,509 1,839 Joint ventures: – Management fees income (note(i)) 16,986 10,786 – Advances to joint ventures (note(ii)) (21) (4,408) – Advances from joint ventures (note(ii)) – 805 – Prepayment from a joint venture relating to an asset held for sale (note(iii)) 10,051 – – Repayment from a joint venture (note (iv)) 59,485 – – Construction revenue 24,678 – Directors: – Loan to Directors (note 21(d)) 9,200 – – Interest receivables from Directors (note 21(d)) 142 –