NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 5. RIGHT-OF-USE ASSETS (CONT’D) Premises RM’000 Company Cost At 1 January 2022/31 December 2022 934 Additions 608 Expiration of lease contract (865) At 31 December 2023 677 Accumulated depreciation At 1 January 2022 626 Charge for the financial year 284 At 31 December 2022 910 Charge for the financial year 327 Expiration of lease contract (865) At 31 December 2023 372 Carrying amount At 31 December 2023 305 At 31 December 2022 24 (a) The Group and the Company lease various office properties, equipment and motor vehicles of which the leasing activities are summarised below: i. Office buildings The Group has leased a number of office buildings between 1 year and 3 years. ii. Premises The Group has leased a number of sites, warehouses and retail shops between 1 year and 3 years. The Group is not allowed to sublease the warehouses and retail shops. The Company has leased a number of retail shops between 1 year to 3 years. iii. Motor vehicles The Group has leased its motor vehicles under hire purchase arrangements. The leases are secured by the leased assets. The Group has an option to purchase the asset at the expiry of the lease period at an insignificant amount. iv. Office and communication equipment The Group has leased its office and communication equipment under hire purchase arrangements. The leases are secured by the leased assets. The Group has an option to purchase the asset at the expiry of the lease period at an insignificant amount. v. Leasehold land The Group has leased several leasehold lands over the lease term. vi. Capital work-inprogress The Group has construction in progress for a leasehold land. 198 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) GHT OF SE SS S (CO )
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