Serba Dinamik Annual Report 2019

288 2019 ANNUAL REPORT FINANCIAL STATEMENTS SERBA DINAMIK HOLDINGS BERHAD 22. RESULTS FROM OPERATING ACTIVITIES (CONTINUED) Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Gain on disposal of subsidiaries - 817 - - Expenses/(income) arising from leases Expenses relating to short-term leases (Note 22.1) 19,858 - - - Expenses relating to leases of low-value assets (Note 22.1) 55 - - - ======== ======== ======== ======== 22.1 The Group leases tools and equipment and residential premises with contract terms of one to two years. These leases are short-term and/or leases of low-value items. The Group has elected not to recognise right-of-use assets and lease liabilities for these leases. 23. FINANCE INCOME AND COSTS Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Profit and interest costs Profit and interest costs of financial liabilities that are not at fair value through profit or loss: finance leases - 1,566 - - term loans, revolving credits and bankers’ acceptances 57,445 46,607 - - bank overdrafts 7,481 3,493 2,618 1 overdue, late payment and trade finance cost 3,409 187 2 - Sukuk coupon/profit 81,071 10,269 52,362 10,269 premium for Sukuk redemption 52,320 - 52,320 - interest or profit expense on lease liabilities 1,047 - - - Recognised in profit or loss 202,773 62,122 107,302 10,270 ======== ======== ======== ======== N O T E S T O T H E F I N A N C I A L S TAT E M E N T S