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13. Commitments (continued)
(b) Operating lease commitments (as lessee)

The future aggregate minimum lease payments under non-cancellable operating
leases in respect of land and buildings are as follows:

30th September 31st March
2015 2015
HK$’000 HK$’000

Not later than one year 34,340 35,165
Later than one year and not later than
five years 135,310 139,017
Later than five years 301,677 326,267

471,327 500,449

(c) Operating lease commitments (as lessor)

The Group leases various properties under non-cancellable operating lease
agreements. The leases have varying terms, escalation clauses and renewal rights.

The future aggregate minimum lease rental receivables under non-cancellable
operating leases in respect of land and buildings are as follows:

30th September 31st March
2015 2015
HK$’000 HK$’000

Not later than one year 9,930 4,370
Later than one year and not later than
five years 14,420 336

24,350 4,706

The lease terms are from one to three years.

14 ALCO HOLDINGS LIMITED Interim Report 2015