200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 32. Commitments (cont'd) (b) Hire purchase commitments (cont'd) 2021 2020 RM RM Present value of payments: Not later than 1 year 15,455,164 22,734,994 Later than 1 year but not later than 2 years 6,756,837 16,074,436 Later than 2 years but not later than 5 years 2,434,461 8,118,663 Present value of minimum lease payments 24,646,462 46,928,093 Less: Amount due within 12 months (Note 23) (15,455,164) (22,734,994) Amount due after 12 months (Note 23) 9,191,298 24,193,099 (c) Lease commitments in respect of right-of-use assets 2021 2020 RM RM Minimum lease payments: Not later than 1 year 2,671,457 3,230,854 Later than 1 year but not later than 2 years 1,629,095 2,823,811 Later than 2 years but not later than 5 years 1,029,784 449,227 Total minimum lease payments 5,330,336 6,503,892 Less: Amounts representing finance charges (330,766) (452,644) Present value of minimum lease payments 4,999,570 6,051,248 Present value of payments: Not later than 1 year 2,478,781 2,964,065 Later than 1 year but not later than 2 years 1,532,665 2,653,054 Later than 2 years but not later than 5 years 988,124 434,129 Present value of minimum lease payments 4,999,570 6,051,248 Less: Amount due within 12 months (Note 24) (2,478,781) (2,964,065) Amount due after 12 months (Note 24) 2,520,789 3,087,183 Group The Group has entered into lease arrangements for the use of land, building, machinery and equipment. The Group has recognised the right-of-use assets (Note 13) with related lease liabilities (Note 24). Future minimum lease payments of right-of-use assets together with the present value of the net minimum lease payments are as follows: Group - 90 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Annual Repor t 2021 150
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