Page 230 - CJ 2019 INTEGRATED REPORT

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19 PREPAID OPERATING LEASE (CONTINUED)
Costs associated to lease
The costs associated to to to lease
consist of of of of expenses incurred by the the Company to to to comply with with Article 21 of of of of the the Industrial Site Lease Agreement with with with respect to to to relocation of of of of of of National Coast Guard construction of of of of of of public public access road re- routing of of of of of of existing services and and upgrading of of of of of of public public beach The costs incurred are amortised with with effect from the the the the date of of of of handing over over to the the the relevant authorities over over the the the remaining life of of of of the the the lease
Prepaid operating lease
In 2004 a a a a a a a a a a a a a a a a subsidiary (Emtel Ltd) entered into a a a a a a a a a a a a a a a a land land lease
lease
agreement with Business Parks of of of of Mauritius Ltd Ltd for for for the the the lease
lease
of of of of of 2 2 acres of of of of of land land at at Ebene CyberCity for for for a a a a a a a a a a a a a a a a a period period of of of of of 30 30 years years renewable at at the the the lessee’s option for for for two further consecutive periods of of of 30 years In 2010 a a a a a a a a a a subsidiary (Le Chaland Hotel Limited) deposited Rs 25 million as contribution to the the the the Tourism Fund in in connection with the the the the the the Group’s hotel project at at La La Cambuse During the the the the the the year ended 31 December 2015 the the the the the the Company deposited an an an an an an additional Rs 23 690 060 to to the the the the the the Tourism Fund as as as as required by the the the the the the revised revised State Land Act The contribution acts as as as as as as as as an an an an an up-front payment to to the the the the the revised revised land lease
lease
lease
agreement agreement dated dated June 2015 2015 starting as as as as as as as as from January 2015 2015 In previous previous years the the the the the lease
lease
lease
lease
rental was being amortised based on on on on on the the the the the draft lease
lease
lease
lease
agreement agreement agreement dated dated 2010 Upon signature of of the the the the revised lease
lease
lease
agreement agreement in in in June 2015 2015 the the the the previous previous amortisation amortisation reserve has been written back and amortisation amortisation is is is being recorded as as from January 2015 2015 over a a a a a a a a a period of of 60 years to 2074 20 DEFERRED INCOME TAX
(i) Assets
At 01 January Income statement charge At 31 December NOTES TO THE FINANCIAL
STATEMENTS 31 DECEMBER 2019 (CONTINUED)
GROUP
COMPANY 2018
2018
2018
2018
2019 Rs’000
8
(8)
- 2019 Rs’000
- - - CURRIMJEE JEEWANJEE AND COMPANY LIMITED
Rs’000
Rs’000
Rs’000
Rs’000
Rs’000
Rs’000
12
- - (4) - - 8
- -