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Hyprop Investments Limited
Integrated annual report and consolidated financial statements
2017
131
31.
Minimum lease payments receivable
Minimum lease payments comprise contractual rental income and operating expense recoveries from investment property.
June 2017
R000
June 2016
R000
The minimum lease payments receivable from tenants have been classified into the following categories:
– Short term (up to one year)
1 867 601
2 071 775
– Medium term (greater than one year and up to five years)
4 042 656
4 681 096
– Long term (greater than five years)
1 289 995
1 171 572
32.
Retirement benefits
All eligible employees are members of a pension fund which is administered by Evolution Corporate Benefits Proprietary Limited. The retirement
funding and risk-related benefits are market-related. All benefits from the pension fund accrue to the members. The pension fund complies with all
current legislation. The group has no commitments for post-retirement medical aid benefits.
June 2017
R000
June 2016
R000
Contributions to the pension fund for group risk benefits are recognised as an expense
11 140
10 490
33.
Related parties and related-party transactions
All related-party transactions were on terms equivalent to those in similar arm’s length transactions.
Related parties with whom the group transacted with during the year were:
AttAfrica
Loan receivable
2 444 203
2 633 939
Interest received
202 717
195 852
Relationship: Co-investor and joint venture
Manda Hill Mauritius
Loan receivable
551 515
624 617
Interest received
28 935
38 705
Relationship: Joint venture
Hystead Limited (UK)
Dividend received and receivable
146 350
Relationship: Joint venture
PDI Investments Limited
Credit enhancement fee: income
36 533
7 372
Credit enhancement fee: receivable
17 177
7 372
Relationship: Co-investor and directorship
Refer to
note 23 – Net operating income for key management compensation