GHL System Berhad Annual Report 2017

GHL SYSTEMS BERHAD 124 NOTES TO THE FINANCIAL STATEMENTS 31 December 2017 CONT’D 28. COMMITMENTS (cont’d) (a) Operating lease commitments (cont’d) (ii) The Group as a lessor The Group has entered into lease arrangements on EDC equipment. The Group has aggregate future minimum lease receivables as at the end of each reporting period as follows: Group 2017 2016 RM RM Not later than one (1) year 12,584,760 13,048,002 Later than one (1) year and not later than five (5) years 8,934,500 17,723,895 21,519,260 30,771,897 (b) Capital commitments Group 2017 2016 RM RM Capital expenditure in respect of purchase of property, plant and equipment: Contracted but not provided 1,502,000 - 1,502,000 - 29. RELATED PARTIES DISCLOSURES (a) Identities of related parties Parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common control or common significant influence. Related parties could be individuals or other parties. Related parties of the Group include: (i) Direct and indirect subsidiaries as disclosed in Note 14 to the financial statements; (ii) Direct and indirect joint ventures as disclosed in Note 15 to the financial statements; (iii) Key management personnel are defined as those persons having the authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. The key management personnel includes all the Directors of the Company, and certain members of senior management of the Group; and (iv) Microtree Sdn. Bhd. (“Microtree”) whereby a substantial shareholder of the Company, Goh Kuan Ho, is also the General Manager of Microtree. (v) Telemas Corporation Sdn Bhd. (“Telemas”) whereby a Director of the Company, Loh Wee Hian is also the Director of Telemas.