Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

11. Operating Leases - Group as Lessor

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11. Operating Leases - Group as Lessor
12 Months Ended
Dec. 31, 2017
Operating Leases - Group As Lessor  
Operating Leases - Group as Lessor

Note 11 — Operating Leases – Group as Lessor

 

The Group has entered into leases on its property portfolio. The commercial property leases typically have lease terms between 6 and 9 years and include clauses to enable periodic upward revision of the rental charge according to prevailing market conditions. Some leases contain options to terminate before the end of the lease term.

 

Future minimum rental receivable under non-cancellable operating leases as of December 31, 2017 is as follows: 

 

    2017  
Within 1 year   $ 2,035,573  
After 1 year, but not more than 5 years     5,498,899  
More than 5 years     94,939  
Total   $ 7,629,411