Note 9: Interest Bearing Liabilities

	2005	2004
	$’000	$’000
Note 9A: Leases
Finance lease commitments
Payable:
Within one year	2,816	5,399
In one to five years	-	2,816
Minimum lease payments	2,816	8,215
Deduct: future finance charges	(41)	(287)
Net lease liability	2,775	7,928
Lease liability is represented by:
Current	2,775	5,153
Non-current	-	2,775
Net lease liability	2,775	7,928
A finance lease exists in relation to vessels. The lease is non-cancellable and for a fixed term of 6 years and 4 months. Customs guarantees the residual of all assets leased. There are no contingent rentals.