My EG Services Berhad Annual Report 2019

MY E.G. SERVICES BERHAD [Registration No. 200001003034 (505639-K)] 162 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019 (CONT’D) 30. HIRE PURCHASE AND FINANCE LEASE PAYABLES (SECURED) The Group 30.9.2018 RM’000 Minimum hire purchase and finance lease payments: - not later than 1 year 1,886 - later than 1 year and not later than 5 years 2,199 4,085 Less: Future finance charges (273) Present value of hire purchase and finance lease payables 3,812 Analysed by:- Current liabilities (Note 37) 1,727 Non-current liabilities (Note 29) 2,085 3,812 (a) The hire purchase payables have been represented as ‘lease liabilities’ as shown in Note 28 to the financial statements following the application of MFRS 16 by the Group using the modified retrospective approach. (b) In the last financial period, the hire purchase and finance lease payables of the Group were secured by the Group’s motor vehicles, office and communication equipment under hire purchase and finance lease. The hire purchase and finance lease arrangements are expiring from 4 to 7 years. (c) In the last financial period, the hire purchase and finance lease payables of the Group at the end of the reporting period bore effective interest rates ranging from 4.44% to 6.30%. The interest rates were fixed at the inception of hire purchase and finance lease arrangements. 31. TERM LOANS (SECURED) The Group The Company 31.12.2019 30.9.2018 31.12.2019 30.9.2018 RM’000 RM’000 RM’000 RM’000 Current liabilities (Note 37) 17,740 14,926 17,740 14,926 Non-current liabilities (Note 29) 120,009 92,598 120,009 92,598 137,749 107,524 137,749 107,524 Details of the term loans are as follows:- Number of Monthly Instalments Monthly Instalment RM’000 Date of Commencement of Repayment Term loan 1 108 509 October 2016 Term loan 2 108 503 October 2016 Term loan 3 120 373 July 2017 Term loan 4 120 320 July 2019 Term loan 5 60 402 December 2019