My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 192 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020 (CONT’D) 26. LEASE LIABILITIES The Group 2020 2019 RM’000 RM’000 At 1 January 2020/October 2018: - As previously reported 9,696 - - Initial application of MFRS 16 - 8,797 - As restated 9,696 8,797 Addition during the financial year/period 3,635 8,680 Interest expense recognised in profit or loss 304 659 Changes due to lease modification (2,152) - Repayment of principal (5,722) (7,781) Repayment of interest expense (304) (659) At 31 December 2020/2019 5,457 9,696 Analysed by:- Current liabilities 3,546 5,755 Non-current liabilities 1,911 3,941 5,457 9,696 The Company 2020 2019 RM’000 RM’000 At 1 January 2020/October 2018: - As previously reported 786 - - Initial application of MFRS 16 - 857 - As restated 786 857 Addition during the financial year/period 592 906 Interest expense recognised in profit or loss 24 67 Changes due to lease modification (24) - Repayment of principal (743) (977) Repayment of interest expense (24) (67) At 31 December 2020/2019 611 786 Analysed by:- Current liabilities 439 633 Non-current liabilities 172 153 611 786 Certain lease liabilities of the Group are secured by the Group’s motor vehicles under the hire purchase arrangements as disclosed in Note 10(a)(i) to the financial statements, with lease terms ranging from 4 to 7 (2019 - 4 to 7) years and bear effective interest rates ranging from 3.12% to 6.36% (2019 - 4.72% to 6.03%).