Annual Report 2019

159 Miramar Hotel and Investment Company, Limited Annual Report 2019 Notes to the Financial Statements 17 Trade and other payables, rental deposits received and contract liabilities (Continued) Included in trade and other payables are trade payables with the following ageing analysis, based on the invoice date, as at the end of the reporting period: 2019 2018 HK$’000 HK$’000 Due within 3 months or on demand 60,972 79,642 Due after 3 months but within 6 months 46,274 43,518 107,246 123,160 18 Lease liabilities The following table shows the remaining contractual maturities of the Group’s lease liabilities at the end of the current and previous reporting periods and at the date of transition to HKFRS 16: 31 December 2019 1 January 2019 Present value of the minimum lease payments Total minimum lease payments Present value of the minimum lease payments Total minimum lease payments HK$’000 HK $’000 HK $’000 HK $’000 Within 1 year 61,537 64,562 45,908 50,020 After 1 year but within 2 years 42,503 44,146 42,491 44,764 After 2 years but within 5 years 45,669 46,884 55,941 58,145 After 5 years – – 6,095 6,132 88,172 91,030 104,527 109,041 149,709 155,592 150,435 159,061 Less: total future interest expenses (5,883) (8,626) Present value of lease liabilities 149,709 150,435