25. Commitments The Group and the Fund lease out their investment properties under operating leases. The future minimum lease payments to be received under non-cancellable leases are as follows: Group Fund 2024 2023 2024 2023 RM RM RM RM Less than one year 37,988,692 36,986,062 37,988,692 36,986,062 Between one and five years 184,885,050 190,369,405 184,885,050 190,369,405 More than five years 305,990,817 335,594,250 305,990,817 335,594,250 528,864,560 562,949,717 528,864,560 562,949,717 26. Significant events (i) Proposed disposal of property located at Jalan Kuchai Lama On 3 December 2024, the Group as represented by the Trustee, entered into a sale and purchase agreement (“SPA”) with Winfar Builders Sdn Bhd (“Winfar Builder”), for a proposed disposal of property located at Jalan Kuchai Lama, for a cash consideration of RM14.7 million. The Purchaser had paid a deposit of RM294,000 being 2% of the disposal consideration upon signing of the SPA. The completion of the SPA is conditional upon approval of the board of directors of the Manager, the Group and Winfar Builder being obtained, and all such other consents and approvals of the appropriate authorities. The proposed disposal is expected to complete by quarter 2 of FY2025. (ii) Proposed disposal of property located at Bandar Sunway On 13 September 2024, the Group as represented by the Trustee, issued letter of offer to Lagi Tegas Sdn Bhd (“Lagi Tegas”), for a proposed disposal of property located at Bandar Sunway, for a cash consideration of RM10.0 million. (ii) Proposed disposal of property located at Taman Perling On 13 September 2024, the Group as represented by the Trustee, issued letter of offer to Kah Motor Co Sdn Bhd (“Kah Motor”), for a proposed disposal of property located at Taman Perling, for a cash consideration of RM13.0 million. Notes to the Financial Statements - 31 December 2024 1 ABOUT US 241 3 SUSTAINABILITY STATEMENT 6 FINANCIAL STATEMENTS 2 BUSINESS OVERVIEW 4 CORPORATE GOVERNANCE 5 OTHER INFORMATION
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