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DYNA-MAC HOLDINGS LTD.
2016 ANNUAL REPORT
97
Performance At A Glance
Financial Report
Corporate Governance and Transparency
Sustainable Growth
Year in Review
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2016
30.
COMMITMENTS
(CONT’D)
(b) Operating lease commitments – where Group is a lessee (Cont’d)
The future minimum lease payable under non-cancellable operating leases contracted for at the balance
sheet date but not recognised as liabilities are analysed as follows:
Group
2016
2015
$’000
$’000
Not later than one year
8,133
8,227
Between one and five years
17,102
21,830
Later than five years
31,064
36,357
56,299
66,414
(c) Operating lease commitments – where the Group is a lessor
The Group leases site equipment to non-related parties under non-cancellable operating leases.
The future minimum lease receivables under non-cancellable operating leases contracted for at the
balance sheet date but not recognised as receivables, are as follows:
Group
2016
2015
$’000
$’000
Not later than one year
12
12
31.
FINANCIAL RISK MANAGEMENT
Financial risk factors
The Group’s activities expose it to market risk (including currency risk and interest rate risk), credit risk,
liquidity risk and capital risk. The Group’s overall risk management strategy seeks to minimise any adverse
effects from the unpredictability of financial markets on the Group’s financial performance. The Group
uses financial instruments such as currency forwards and interest rate swaps to hedge certain financial risk
exposures.
The Board of Directors is responsible for setting the objectives and underlying principles of financial risk
management for the Group. The senior management then establishes the detailed policies such as authority
levels, oversight responsibilities, risk identification and measurement, exposure limits and hedging strategies,
in accordance with the objectives and underlying principles approved by the Board of Directors.