Annual Report 2023

191 ANNUAL REPORT 2023 38. COMMITMENTS AND CONTINGENT LIABILITIES (CONTINUED) (b) Capital commitments for investments that are contracted but not provided for 2023 2022 HK$’million HK$’million Group Ports projects (Note) 478 6 Joint ventures Land development project 12 13 490 19 Note: On 20 November 2023, the Group entered into a share purchase agreement with PT Episenta Utama Investasi, an independent third party, for the acquisition of 51% equity interest in PT Nusantara Pelabuhan Handal Tbk, at a consideration of US$61.2 million (approximately HK$478 million) subject to fulfilment of the condition precedents under the share purchase agreement. Up to the issuance of these consolidated financial statements, the acquisition has not yet been completed. (c) Future operating lease receivables where the Group as lessor The Group has future aggregate lease receivables under non-cancellable operating leases for investment properties and property, plant and equipment as follows: 2023 2022 HK$’million HK$’million Within one year 228 360 In the second year 154 152 In the third year 126 130 In the fourth year 76 116 In the fifth year 34 87 After the fifth year 42 95 660 940