200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 31. Related party disclosures (cont'd) Companies related to certain directors Compensation of key management personnel The remuneration of key management personnel during the year are as follows: 2021 2020 RM RM Salaries, bonus and other emoluments 4,411,824 4,032,753 Defined contribution plan 752,178 664,497 Other short term benefits 122,839 121,966 5,286,841 4,819,216 32. Commitments (a) Capital commitments 2021 2020 RM RM Capital commitments as at the reporting date are as follows: Approved and contracted for: Property, plant and equipment 2,654,083 3,112,945 Land held for development 106,892,715 107,155,215 (b) Hire purchase commitments 2021 2020 RM RM Minimum lease payments: Not later than 1 year 16,490,147 24,956,274 Later than 1 year but not later than 2 years 7,090,351 17,086,857 Later than 2 years but not later than 5 years 2,539,947 8,499,836 Total minimum lease payments 26,120,445 50,542,967 Less: Amounts representing finance charges (1,473,983) (3,614,874) Present value of minimum lease payments 24,646,462 46,928,093 Group Group Group These entities are subject to the same source of influence as the Company through common directors. The Group has entered into hire purchase arrangements for certain items of plant and equipment (Note 12). Future minimum lease payments under hire purchases together with the present value of the net minimum lease payments are as follows: - 89 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 K imlun Corporat ion Berhad Regi s t rat ion No. 200901023978 (867077-X) 149
RkJQdWJsaXNoZXIy NDgzMzc=