Kimlun Corporation Berhad Annual Report 2017

Annual Report 2017 109 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 (cont’d) 32. Commitments (a) Capital commitments Capital commitments as at the reporting date are as follows: Approved and contracted for : Group 2017 2016 RM RM Property, plant and equipment 20,283,369 5,012,448 Approved and not contracted for: Property, plant and equipment - 5,573,258 (b) Operating lease commitment - as lessee Minimum lease payments recognised in profit or loss for the financial year ended 31 December 2017 amounted to RM3,874,288 (2016 : RM2,899,999). (c) Finance lease commitments The Group has finance leases for certain items of plant and equipment (Note 12). Future minimum lease payments under finance leases together with the present value of the net minimum lease payments are as follows: Group 2017 2016 RM RM Minimum lease payments: Not later than 1 year 21,578,136 8,195,167 Later than 1 year but not later than 2 years 19,862,752 5,295,339 Later than 2 years but not later than 5 years 23,598,535 4,820,563 More than 5 years 2,435,329 1,034,714 Total minimum lease payments 67,474,752 19,345,783 Less: Amounts representing finance charges (6,712,629) (1,538,117) Present value of minimum lease payments 60,762,123 17,807,666 Present value of payments: Not later than 1 year 18,687,338 7,406,980 Later than 1 year but not later than 2 years 17,848,477 4,857,203 Later than 2 years but not later than 5 years 21,844,669 4,531,985 More than 5 years 2,381,640 1,011,498 Present value of minimum lease payments 60,762,124 17,807,666 Less: Amount due within 12 months (Note 24) (18,687,338) (7,406,980) Amount due after 12 months (Note 24) 42,074,786 10,400,686