Asia-Pacific Strategic Investments Limited - Annual Report 2021

Notes to the Financial Statements For the financial year ended 30 June 2021

20

Leases (continued)

The Group and the Company as a lessee (continued)

(b)

Interest expense

Group

2021

2020

S$’000

S$’000

27

Interest expense on lease liabilities (Note 8)

41

(c)

Lease expense not capitalised in lease liabilities

Group and Company 2021 2020 S$’000 S$’000

4

Lease expense – short-term and low-value leases (Note 5)

49

(d) Total cash outflow for all the leases of the Group in 2021 was S$469,000 (2020: S$477,000).

The Group as a lessor

The Group has leased out its owned properties to non-related parties. This lease is classified as an operating lease because the risk and rewards incidental to ownership of the assets are not substantially transferred. Rental income is disclosed in Note 7.

ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED

96