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THE GROUP PARENT ENTITY

2008 2007 2008 2007
Note $’000 $’000 $’000 $’000
NOTE 30 — COMMITMENTS AND LEASES
CONTINUED
Finance lease commitments — as lessee
Finance lease rentals are payable as follows:
Within one year 5,277 5,316 — —
Later than one year but not later than five years 10,500 15,005 — —
Later than five years — — — —
15,777 20,321 — —
Less: Future lease finance charges (1,687) (2,434) — —
14,090 17,887 — —
The present value of lease payments are as follows:
Within one year 4,405 4,385 — —
Later than one year but not later than five years 9,685 13,502 — —
Later than five years — — — —
14,090 17,887 — —
Finance lease liabilities provided for in the accounts:
Current 22 4,405 4,385 — —
Non-current 22 9,685 13,502 — —
Total lease liabilities 14,090 17,887 — —

Of the above lease, $13,849,000 (2007: $17,194,000) is in respect of land and buildings. The lease term is for a remaining three year period
at the end of which time the controlled entity has an option to purchase the property at no additional cost. If the option was not exercised,
a nominal value would be recovered over time in respect of the property.

The remaining balance of $241,000 (2007: $693,000) is in respect of plant and equipment. The lease term is for a remaining six month period
at the end of which time the controlled entity has an option to purchase the equipment at no additional cost.

Finance lease commitments — as lessor

Neither the Group nor the Parent Entity has finance lease or hire purchase arrangements in place where they act as a lessor.

NOTE 31 — CONTINGENT ASSETS AND LIABILITIES

Details of contingent liabilities and contingent assets which although considered remote the directors consider should be disclosed, are as follows:

Claims against Group entities

Claim from a dispute over contract terms

During the financial year ended 30 June 2008 a Group entity received a claim, resulting from a dispute over contract terms, seeking recovery of
past payments made totalling $4,141,000, plus interest and legal costs. A provision has not been established for this amount as the success of
the claim is not currently considered probable.

Claims for personal injury

The nature of the Group’s operations results in claims for personal injury being received from time to time. The directors believe that the outcome
of any current claims outstanding, which are not provided against in the financial statements, will not have a significant impact on the operating
result of the Group or the Company in future reporting periods.

The directors are of the opinion that provisions are not required in respect of these matters, as it is not probable that a future sacrifice of
economic benefits will be required or the amount is not capable of reliable measurement.

Taxation — overseas controlled entities

A contingent asset exists at 30 June 2008 totalling approximately $7,950,000 (2007: $4,866,000) relating to disputed value-added tax provided
for or paid by certain overseas controlled entities on a number of products sold during the period since 1 January 2005.