MKH Berhad 211 Notes to the Financial Statements For the Financial Year Ended 30 September 2022 SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR AND SUBSEQUENT EVENTS (CONT’D) 41. On 24 February 2022, the conflict between Russia and Ukraine intensified significantly with Russia’s invasion of Ukraine. The Russia-Ukraine war continues to evolve as military activities escalate and sanctions being imposed on Russia leading to significant uncertainties and challenges to the global economics. During the financial year under review, the Russia-Ukraine war has further exacerbated the tight vegetable oils supply situation and drove an upsurge in crude palm oil prices. On the other hand, the war has also pushed up inflation and caused supply chain disruptions to fuel and fertiliser. The Group will continue to assess the impact of the Russia-Ukraine war on the financial statements of the Group for the financial year ending 30 September 2023. The global uncertainties in the markets, particularly as a result of the Russia-Ukraine war will continue to pose challenges to the Group. Nevertheless, with its strong cash position and resilient fundamentals of its palm oil business, the Group expects its financial performance for the financial year ending 30 September 2023 to remain healthy. (e) OPERATING LEASE ARRANGEMENTS - THE GROUP AS LESSOR The Group has entered into property leases on its investment properties, which comprise an international school and other retail properties, with remaining non-cancellable lease period ranging from 3 years to 17 years (2021: 4 years to 18 years). The lease contracts contain fixed upward revision of the rental charges over the lease period. Future minimum rental receivables under non-cancellable operating leases at the reporting date but not recognised as receivables, are as follows: 42. 2022 RM 2021 RM The Group 49,637,580 45,145,460 4,492,119 4,512,418 16,833,196 14,777,555 28,312,265 25,855,487 Not later than 1 year Later than 1 year but not later than 5 years Later than 5 years
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