Ni Hsin Berhad Annual Report 2018

25. Operating leases Leases as lessee Non-cancellable operating lease rentals are payable as follows: Group 2018 2017 RM’000 RM’000 Less than one year 110 - Between one and three years 110 - 220 - 26. Capital and other commitments The Group leases a office space under operating lease. The lease period is typically 3 years, with an option to renew the lease after that date. Group 2018 2017 RM’000 RM’000 Property, plant and equipment contracted but not provided for 16 49 27. Related parties Identity of related parties For the purposes of these financial statements, parties are considered to be related to the Group if the Group or the Company has the ability, directly or indirectly, to control or jointly control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group or the Company and the party are subject to common control. Related parties may be individuals or other entities. Related parties also include key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. Key management personnel include all the Directors of the Group, and certain members of senior management of the Group. The Group has related party relationship with significant investors, subsidiaries, Directors and key management personnel. Notes to the financial statements (continued) Annual Report 2018 97