200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 32. Commitments (cont'd) (c) Lease commitments in respect of right-of-use assets 2024 2023 RM RM Minimum lease payments: Not later than 1 year 4,166,010 2,728,817 Later than 1 year but not later than 2 years 2,203,134 1,784,534 Later than 2 years but not later than 5 years 1,366,638 1,106,017 Later than 5 years 116,992 - Total minimum lease payments 7,852,774 5,619,368 Less: Amounts representing finance charges (551,414) (354,425) Present value of minimum lease payments 7,301,360 5,264,943 Present value of payments: Not later than 1 year 3,859,557 2,527,451 Later than 1 year but not later than 2 years 2,061,656 1,673,847 Later than 2 years but not later than 5 years 1,264,368 1,063,645 Later than 5 years 115,779 - Present value of minimum lease payments 7,301,360 5,264,943 Less: Amount due within 12 months (Note 24) (3,859,557) (2,527,451) Amount due after 12 months (Note 24) 3,441,803 2,737,492 Group 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 (Note 12) with related lease liabilities as disclosed in Note 24. Future minimum lease payments of right-of-use assets together with the present value of the net minimum lease payments are as follows: - 82 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 174
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