ENRA Group Berhad | Annual Report 2022 111 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 5. RIGHTS-OF-USE ASSETS AND LEASE LIABILITIES (Cont’d) The Group and the Company as lessee (Cont’d) (f) In the previous financial year, the Group and the Company have received numerous forms of rent concessions from lessors as the Group and the Company were unable to operate for significant periods of time, which included rent forgiveness (e.g. reductions in rent contractually due under the terms of lease agreements). The impact is disclosed in Note 5(d) to the financial statements. The Group as a lessor The Group has entered into lease agreements on certain asset for terms of four (4) years and renewable at the end of the lease period. The monthly rental consists of a fixed base rent. Future minimum rentals receivable under agreement at the reporting date are as follows: Group 2022 2021 RM’000 RM’000 Less than one (1) year 2,349 33,928 One (1) to two (2) years – 2,417 Two (2) to three (3) years – – 2,349 36,345 6. INVESTMENTS IN SUBSIDIARIES Company 2022 2021 RM’000 RM’000 Unquoted equity shares, at cost 10,146 10,146 Less: Impairment losses – – 10,146 10,146 Equity contributions to subsidiaries 42,661 67,753 Less: Accumulated impairment losses (14,227) (11,701) 38,580 66,198 (a) A subsidiary is an entity in which the Group and the Company are exposed, or have rights, to variable returns from its involvement with the subsidiary and have the ability to affect those returns through its power over the subsidiary. An investment in subsidiary, which is eliminated on consolidation, is stated in the separate financial statements of the Company at cost less accumulated impairment losses, if any. Put options written over non-controlling interests on the acquisition of subsidiary shall be included as part of the cost of investment in the separate financial statements of the Company. Subsequent changes in the fair value of the written put options over non-controlling interests shall be recognised in profit or loss.
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