19. COMMITMENTS
a.
NOTES ON THE ACCOUNTS
At 31st December, the Company had commitments under operating leases to make payments in the next year as follows:
Land and Buildings
Others
1992
1991
HK$'000
HK$'000
1992
HK$'000
1991
HK$'000
Leases expiring :
Within 1 year
5,016
152
1,350
2,400
After 1 year but within 5 years
2,239
6.222
3,600
7,255
6,374
1,350
6,000
b.
Capital commitments outstanding at 31st December not provided for in the accounts were as follows:
Contracted for
Authorised but not contracted for
1992
HK$'000
1991
HK$'000
107,128
174,506
46,563
68,154
153,691
242,660
20. STAFF RETIREMENT SCHEMES
The Company operates separate staff retirement schemes for their monthly and daily-rated employees. Contributions under these staff retirement schemes applicable to each year are charged against income for the year. The costs of these schemes are determined by actuarial valuations periodically. The assets of these schemes are held separately from those of the Company.
Actuarial valuations of the schemes are carried out normally at three-year intervals. The latest full actuarial valuation of the schemes carried out as at 31st December, 1991 indicated that, in the opinion of the actuary, there was no shortfall of the net realisable value of the assets of the scheme from the actuarially determined value of vested benefits of the members at that date.
21. COMPARATIVE FIGURES
Certain comparative figures have been reclassified to conform with the current year's presentation.
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