	Office and residential property			Ships			Ship equipment			Total
	US$’000			US$’000			US$’000			US$’000

Balance as at 1 January 2020		2,175			55,636			135			57,946
Additions		539			20,833			85			21,457
Disposal		-			-			(3	)		(3	)
Interest expense		125			2,387			5			2,517
Lease payments		(1,104	)		(29,183	)		(178	)		(30,465	)
- Principal from continuing operations		(925	)		(25,013	)		(173	)		(26,111	)
- Principal from discontinued operation		(54	)		(1,783	)		-			(1,837	)
- Interest on continuing operation		(100	)		(2,375	)		(5	)		(2,480	)
- Interest on discontinued operation		(25	)		(12	)		-			(37	)
Transferred to liabilities of a disposal group held for sale (Note 38)		(346	)		-			-			(346	)
Acquired on acquisition of subsidiary		-			-			90			90
Effect of foreign currency exchange differences		48			-			-			48
Lease liabilities as at 31 December 2020		1,437			49,673			134			51,244
Additions		371			20,254			243			20,868
Disposal		-			(2,777	)		-			(2,777	)
Interest expense		63			1,835			3			1,901
Lease payments		(1,029	)		(36,791	)		(121	)		(37,941	)
- Principal		(966	)		(34,956	)		(118	)		(36,040	)
- Interest from continuing operations		(63	)		(1,835	)		(3	)		(1,901	)
Effect of foreign currency exchange differences		(24	)		-			-			(24	)
Lease liabilities as at 31 December 2021		818			32,194			259			33,271

	2021		2020
	US$’000		US$’000
Analysed between:
Current portion		27,375		28,120
Non-current portion		5,896		23,124
		33,271		51,244

Maturity analysis of lease liabilities is disclosed in Note 4. The Group does not face a significant liquidity risk with regard to its lease liabilities. Lease liabilities are monitored within the Group’s treasury function.

During the financial year 2021 and 2020, one of the charter contracts requiring the recognition of a right-of-use assets and a lease liability contains variable payment terms that is linked to an index and such variable lease payments are recognised in charter hire cost in the profit or loss in the period in which the condition that triggers those payments occurs. A 5% increase in the index will result in such variable lease contracts to increase its total lease payments by approximately US$Nil (2020: US$24,000).