My EG Services Berhad Annual Report 2019

ANNUAL REPORT 2019 161 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019 (CONT’D) FINANCIAL STATEMENTS 28. LEASE LIABILITIES The Group The Company 31.12.2019 31.12.2019 RM’000 RM’000 At 1 October 2018 - As previously reported - - - Initial application of MFRS 16 8,797 857 - As restated 8,797 857 Addition during the financial period 8,680 906 Interest expense recognised in profit or loss (Note 40) 659 67 Repayment of principal (7,781) (977) Repayment of interest expense (659) (67) At 31 December 2019 9,696 786 Analysed by: Current liabilities 5,755 633 Non-current liabilities 3,941 153 9,696 786 The comparative information is not presented as the Group has applied MFRS 16 using the modified retrospective approach. Certain lease liabilities of the Group are secured by the Group’s motor vehicles under the hire purchase arrangements as disclosed in Note 11(a)(i) to the financial statements, with lease terms ranging from 4 to 7 (2018 - 4 to 7) years and bear effective interest rates ranging from 4.72% to 6.03% (2018 - 4.44% to 6.30%). 29. LONG-TERM BORROWINGS The Group The Company 31.12.2019 30.9.2018 31.12.2019 30.9.2018 RM’000 RM’000 RM’000 RM’000 Hire purchase and finance lease payables (Note 30) - 2,085 - - Term loans (Note 31) 120,009 92,598 120,009 92,598 Block discounting (Note 32) 12,565 - - - 132,574 94,683 120,009 92,598