200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 31. Commitments (cont'd) (b) 2023 2022 RM RM Minimum lease payments: Not later than 1 year 10,276,329 8,941,571 Later than 1 year but not later than 2 years 7,561,837 4,237,460 Later than 2 years but not later than 5 years 10,936,043 2,919,898 Total minimum lease payments 28,774,209 16,098,929 Less: Amounts representing finance charges (3,023,075) (1,131,784) Present value of minimum lease payments 25,751,134 14,967,145 Present value of payments: Not later than 1 year 8,958,923 8,285,212 Later than 1 year but not later than 2 years 6,690,621 3,948,254 Later than 2 years but not later than 5 years 10,101,590 2,733,679 Present value of minimum lease payments 25,751,134 14,967,145 Less: Amount due within 12 months (Note 22) (8,958,923) (8,285,212) Amount due after 12 months (Note 22) 16,792,211 6,681,933 (c) 2023 2022 RM RM Minimum lease payments: Not later than 1 year 2,728,817 2,968,768 Later than 1 year but not later than 2 years 1,784,534 2,286,180 Later than 2 years but not later than 5 years 1,106,017 1,177,215 Total minimum lease payments 5,619,368 6,432,163 Less: Amounts representing finance charges (354,425) (347,727) Present value of minimum lease payments 5,264,943 6,084,436 Present value of payments: Not later than 1 year 2,527,451 2,769,568 Later than 1 year but not later than 2 years 1,673,847 2,178,456 Later than 2 years but not later than 5 years 1,063,645 1,136,412 Present value of minimum lease payments 5,264,943 6,084,436 Less: Amount due within 12 months (Note 23) (2,527,451) (2,769,568) Amount due after 12 months (Note 23) 2,737,492 3,314,868 Group Hire purchase commitments (cont'd) Future minimum lease payments under hire purchases together with the present value of the net minimum lease payments are as follows: 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 as disclosed in Note 12 with related lease liabilities as disclosed in Note 23. Future minimum lease payments of right-of-use assets together with the present value of the net minimum lease payments are as follows: Lease commitments in respect of right-of-use assets Group - 72 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 Kimlun Corporation Berhad 142
RkJQdWJsaXNoZXIy NDgzMzc=