曝光台 注意防骗
网曝天猫店富美金盛家居专营店坑蒙拐骗欺诈消费者
All properties held under operating leases that would otherwise meet the definition of investment property are
classified as investment property.
The Group’s total future minimum lease payments under non-cancellable operating leases are receivable as follows:
2009 2008
RMB million RMB million
Within 1 year 56 64
After 1 year but within 5 years 182 203
After 5 years 111 154
349 421
As at 31 December 2009, the net book value of the aircraft and flight training facilities leased out by the Group
and the Company under operating leases amounted to RMB52 million and RMB801 million, respectively (2008: RMB63 million and RMB824 million, respectively).
CHINA SOUTHERN AIRLINES COMPANY LIMITED • ANNUAL REPORT 2009
88 Notes to the Financial Statements
(Prepared in accordance with International Financial Reporting Standards)
(Expressed in Renminbi)
21 Property , plant and equipment , net (cont’d)
(f) The investment properties are located in the PRC, where comparable market transactions are infrequent. In the
absence of the current or recent prices in an active market and alternative reliable estimates of fair value (for example, discounted cash flow projection) are not available, the Group could not reliably determine the fair value of the investment properties.
(g) The Company entered into two separate arrangements (the “Arrangements”) with certain independent third
parties during each of 2002 and 2003. Under each of the Arrangements, the Company sold an aircraft and
then immediately leased back the aircraft for an agreed period. The Company has an option to purchase the
aircraft at a pre-determined date. In the event that the lease agreement is early terminated by the Company, the
Company is liable to pay a pre-determined penalty to the lessor. Provided that the Company complies with the lease agreements, the Company is entitled to the continued possession and operation of the aircraft. Since the
Company retains substantially all risks and rewards incidental to ownership of the aircraft and enjoys substantially
the same rights to their use as before the Arrangements, no adjustment has been made to the property, plant and equipment.
(h) As at 31 December 2009 and up to the date of approval of these financial statements, the Group is in the process of applying for the land use right certificates and property title certificates in respect of the properties located in Guangzhou (including Guangzhou Baiyun International Airport), Xiamen, Heilongjiang, Hainan, Jilin, Dalian, Hunan, Xinjiang, Henan and Shenzhen, in which the Group has interests and for which such certificates have not been granted. As at 31 December 2009, carrying value of such properties of the Group and the Company amounted to RMB2,638 million and RMB1,696 million, respectively (2008: RMB2,331 million and RMB1,401 million, respectively). The directors of the Company are of the opinion that the use of and the conduct of operating activities at the properties referred to above are not affected by the fact that the Group has not yet obtained the relevant land use right certificates and property title certificates.
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China Southern Airlines Company Limited Annual Report 2009(72)
