
		As at		As at
		December 31,		December 31,
		2024		2025
		USD’000		USD’000
Lease liabilities payable:
Within one year		41,407		45,662
Within a period of more than one year but not exceeding two years		34,843		39,795
Within a period of more than two years but not exceeding five years		73,725		78,569
Within a period of more than five years		62,651		64,775
		212,626		228,801
Less: Amounts due for settlement within one year shown under current liabilities		41,407		45,662
Amounts due for settlement after one year shown under non-current liabilities		171,219		183,139

The incremental borrowing rates applied to lease liabilities range from 0.77% to 9.75% (2024: 0.77% to 9.50%) per annum as at December 31, 2025.

The Group applies incremental borrowing rates as the discount rates of lease liabilities, which require financing spread adjustments and lease specific adjustments based on the relevant market rates. The assessments of the adjustments in determining the discount rates involved management judgment, which may significantly affect the amount of lease liabilities and right-of-use assets. As at December 31, 2024 and 2025, the carrying amounts of right-of-use assets are USD185,514,000 and USD204,180,000 respectively and the carrying amounts of lease liabilities are USD212,626,000 and USD228,801,000 respectively.