194 Annual Report 2021 31. LEASE LIABILITY The Group 2021 2020 RM RM Non-current 18,593,107 18,282,900 Current 492,775 457,778 At end of year 19,085,882 18,740,678 Minimum lease payment: Not later than 1 year 562,500 500,000 Later than 1 year but not later than 5 years 2,300,000 2,287,500 Later than 5 years 67,225,002 67,800,002 70,087,502 70,587,502 Less: Unexpired finance charges (51,001,620) (51,846,824) 19,085,882 18,740,678 Present value of lease liability: Not later than 1 year 492,775 457,778 Later than 1 year but not later than 5 years 1,806,707 1,877,239 Later than 5 years 16,786,400 16,405,661 19,085,882 18,740,678 The Group’s lease comprise land leased from PAK for a period of 60 years for future construction of a retail mall. The related right-of-use asset is disclosed in Note 11. The incremental borrowing rate of the Group applied to the lease liability is 4.51% (2020: 4.51%). Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
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