DF table

Notes to Financial Statements

21. COMMITMENTS 1997
US$m 1996
US$m

Capital commitments

Authorised not contracted 5.3 47.0

Contracted not provided 33.1 9.8

38.4 56.8

Operating lease commitments

Total commitments under operating leases

Land and buildings

- due within one year 177.0 187.7

- due between one and five years 259.1 329.9

- due beyond five years 112.8 187.6

548.9 705.2

In addition, the Group has operating lease commitments with rentals determined in relation to sales. It is not possible to quantify accurately future rentals payable under such leases.
Pension commitments
The Group has pension commitments in respect of its defined benefit schemes, with the major schemes relating to employees in Hong Kong.
The Group's major schemes are valued periodically by independent qualified actuaries. The principal assumptions were that investment returns would exceed salary increases by 1%. The fair value of the assets of the Group's major defined benefit schemes at their latest valuations at 1st January 1998 was US$84.1 million and the actuarial present value of the benefits that had accrued to members after allowing for future salary increases amounted to US$56.7 million.

21. COMMITMENTS	1997 US$m	1996 US$m

Capital commitments
Authorised not contracted	5.3	47.0
Contracted not provided	33.1	9.8

	38.4	56.8

Operating lease commitments
Total commitments under operating leases
Land and buildings
- due within one year	177.0	187.7
- due between one and five years	259.1	329.9
- due beyond five years	112.8	187.6

	548.9	705.2

In addition, the Group has operating lease commitments with rentals determined in relation to sales. It is not possible to quantify accurately future rentals payable under such leases. Pension commitments The Group has pension commitments in respect of its defined benefit schemes, with the major schemes relating to employees in Hong Kong. The Group's major schemes are valued periodically by independent qualified actuaries. The principal assumptions were that investment returns would exceed salary increases by 1%. The fair value of the assets of the Group's major defined benefit schemes at their latest valuations at 1st January 1998 was US$84.1 million and the actuarial present value of the benefits that had accrued to members after allowing for future salary increases amounted to US$56.7 million.