20 UNDERTAKINGS FOR CHARGE OF PROPERTIES
The title deeds of certain of the Group's properties, with a net book value of HK$147,241,000 at 31 December 1996 (1995: HK$143,931,000), have been deposited with certain banks together with agreements of undertaking to execute a legal mortgage in an event of default of the Group's obligations under the respective loan agreements.
At 31 December 1996, the Group's liabilities covered by the above agreements of undertaking amounted to HK$81,429,000 (1995: HK$117,143,000).
21
COMMITMENTS
(a) At 31 December, the Company and the Group had commitments under operating leases for properties
to make payments in the next year as follows:
The Group The Company
1996
1996
HK$'000
HK$'000
1995
HK$'000
Leases expiring:
Within 1 year
43
43
184
After 1 year but within 5 years
882
882
261
925
925
445
(b) Capital commitments outstanding at 31 December not provided for in the accounts were as follows:
The Group The Company
1996
1996
HK$'000
HK$'000
1995
HK$'000
Contracted for
544,790
298,252
293,777
Authorised but not contracted for
443,766
443,766
515,669
988,556
742,018
809,446
61