ACCOUNTABILITY 246 YINSON HOLDINGS BERHAD 34. LEASES (a) Finance lease receivables – the Group as lessor Group 2026 RM million 2025 RM million Minimum lease receivables: Within 1 year 1,959 1,154 Between 1-2 years 1,948 1,156 Between 2-3 years 1,947 1,144 Between 3-4 years 1,931 1,139 Between 4-5 years 1,918 1,123 Later than 5 years 22,438 16,233 Total undiscounted lease payments 32,141 21,949 Less: Future finance income (18,977) (13,085) Net investment in finance lease 13,164 8,864 Current 308 186 Non-current 12,856 8,678 13,164 8,864 (i) In the financial year ended 31 January 2026, a subsidiary of the Company commenced a finance lease for the chartering of an FPSO (Agogo FPSO) to a third party for a firm charter period of 15 years. As a result, the contract asset of RM5,856 million was reclassified to finance lease receivables. Finance lease income on the net investment in the lease during the financial year was RM458 million (Note 6), of which RM43 million related to variable lease payments which are not included in the measurement of the net investment in the lease. (ii) In the financial year ended 31 January 2025, a subsidiary of the Company commenced a finance lease for the chartering of an FPSO (FPSO Maria Quitéria) to a third party for a firm charter period of 22.5 years. As a result, the contract asset of RM7,043 million was reclassified to finance lease receivables. Finance lease income on the net investment in the lease during the financial year was RM729 million (2025: RM364 million) (Note 6), of which RM35 million (2025: RM138 million) related to gain on re-measurement of finance lease receivables arising from effect of charter day rate escalation determined at effective dates as stipulated in the charter contracts and RM2 million (2025: RM7 million) related to variable lease payments which are not included in the measurement of the net investment in the lease. (iii) In the financial year ended 31 January 2024, a subsidiary of the Company commenced a finance lease for the chartering of an FPSO (FPSO Anna Nery) to a third party for a firm charter period of 25 years. As a result, the contract asset of RM5,645 million was reclassified to finance lease receivables. As at 31 January 2025, the finance lease receivables balances were deconsolidated from the Group’s balance sheet (refer to Note 50(g) for details). Finance lease income on the net investment in the lease during the previous financial year was RM810 million (Note 6), of which RM79 million related to gain on re-measurement of finance lease receivables arising from effect of charter day rate escalation determined at effective dates as stipulated in the charter contracts and RM6 million related to variable lease payments which are not included in the measurement of the net investment in the lease.
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