158 KEYFIELD INTERNATIONAL BERHAD 202001038989 (1395310-M) NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (cont’d) 18. LEASE LIABILITIES The Group 2024 2023 RM’000 RM’000 At 1 January 14,643 18,937 Additions (Notes 9 and 29(a)) 39,332 13,471 Changes due to reassessment of lease term (Note 29(b)) (5,049) - Derecognition due to lease termination (Note 29(b)) - (8,613) Interest expense recognised in profit or loss (Note 25) 1,538 819 Repayment of principal (17,190) (9,152) Repayment of interest expense (1,538) (819) At 31 December 31,736 14,643 Analysed by:- Current liabilities 17,854 10,259 Non-current liabilities 13,882 4,384 31,736 14,643 (a) A lease liability of the Group was secured by the Group’s motor vehicle under the hire purchase arrangement as disclosed in Note 9(a)(iii) to the financial statements, with lease term of 3 years. (b) The effective interest rates of the leases at the end of the reporting period were as follows:- The Group 2024 2023 % % Effective interest rates 5.39 - 5.63 4.88 - 5.89
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