b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)4.7 LEASESAsatDecember31,2019:Right-of-useassetsofUS$4,913wererecognizedandpresentedseparatelyintheconsolidatedstatementoffinancialposition.LeaseliabilitiesofUS$4,866recognizedandpresentedseparatelyintheconsolidatedstatementoffinancialposition.TheleaseliabilitiesasatJanuary1,2019canbereconciledtotheoperatingleasecommitmentsasofDecember31,2018asfollows:(X US$ 1,000) Motor Vessels Land TotalVehiclesOperating lease commitments as at10,152 2,243 439 12,834 December 31,2018Weightedaverageincrementalborrowingrateas 11% 0% 9.75% -atJanuary1,2019Discounted operating lease commitment at 7,388 2,243 144 9,775 January 1, 2019 Less:Commitments relating to short-term leases-(2,243)-(2,243)Amendments related to existing lease contracts (969)- -(969)Commitmentsrelatedtoleasesendingin2019 (942)- -(942)Add:Leasesnotincludedinoperationallease126-116242 commitmentsasatDecember31,2018Lease liabilities as at January 1, 2019 5,603 - 260 5,863 Amounts recognized in the consolidated statement of financial position and profit or lossSetoutbelow,arethecarryingamountsoftheGroupsright-of-useassetsandthemovementsduringtheperiod:(X US$ 1,000) Motor Vehicles Land Lease TotalAs at January 1, 20195,603 260 5,863 Additions1,109-1,109Depreciation (2,036)(23) (2,059)As at December 31, 20194,676 237 4,913 88 STAATSOLIE 2019 ANNUAL REPORT'