DESTINI Annual Report 2018

24. Finance Lease Liabilities Group Company 2018 2017 2018 2017 RM RM RM RM Minimum finance lease payments: Within one year 1,007,457 870,965 - 11,034 Between one to five years 1,539,165 1,615,821 - - More than five years 123,152 218,485 - - 2,669,774 2,705,271 - 11,034 Less : Future finance charges (222,258) (240,421) - (334) Present value of finance lease liabilities 2,447,516 2,464,850 - 10,700 Present value of finance lease liabilities: Within one year 920,463 767,010 - 10,700 Between one to five years 1,409,900 1,546,600 - - More than five years 117,153 151,240 - - 2,447,516 2,464,850 - 10,700 Analysed as: Repayable within twelve months 920,463 767,010 - 10,700 Repayable after twelve months 1,527,053 1,697,840 - - 2,447,516 2,464,850 - 10,700 The finance lease liabilities interests are charged at rates ranging from 2.58% to 4.80% (2017: 2.28% to 4.70%) per annum. The Group leases plant and machineries under finance lease (Note 4). At the end of the lease term, the Group has the option to acquire the assets at a nominal price deemed to be a bargain purchase option. There are no restrictive covenants imposed by the lease agreement and no arrangements have been entered into for contingent rental payments. DESTINI BERHAD ANNUAL REPORT 2018 167