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Notes to the financial statements
31 December 2014
Bursa Malaysia
•
Annual Report 2014
151
32. Operating lease arrangements
(a) The Group and Company as lessee of land
The Company has entered into two non-cancellable operating lease agreements for the use of land. The leases are for a period of 99 years with no renewal
or purchase option included in the contracts. The leases do not allow the Company to assign, transfer or sublease or create any charge, lien or trust in
respect of or dispose of the whole or any part of the land. Tenancy is however allowed with the consent of the lessor.
The future aggregate minimum lease payments under non-cancellable operating leases contracted for as at the financial year end but not recognised as
liabilities are as follows:
Group and Company
2014
2013
RM’000
RM’000
Not later than one year
539
539
Later than one year and not later than five years
2,155
2,155
Later than five years
39,179
39,718
41,873
42,412
The lease rental for the current financial year is disclosed in Note 7.
(b) The Group and Company as lessee of equipment
The Company has entered into an operating lease arrangement for the use of equipment. The leases have lives of five years with no renewal or purchase
option included in the contracts.
The future aggregate minimum lease payments under operating leases contracted for as at the financial year end but not recognised as liabilities are as follows:
Group and Company
2014
2013
RM’000
RM’000
Not later than one year
152
152
Later than one year and not later than five years
278
430
430
582
The lease rental for the current financial year is disclosed in Note 7.