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Notes to the financial statements
31 December 2014
Bursa Malaysia
•
Annual Report 2014
152
32. Operating lease arrangements (cont’d.)
(c) The Group and Company as lessor of building
The Company has entered into operating lease agreements for the rental of office space in the building. The lease period is for three years with renewal
option of another three years included in the agreements. The leases have a fixed rental rate for the existing lease period with an upward revision to the
rental rate for the renewed lease period.
The future aggregate minimum lease payments receivable under operating leases contracted for as at the financial year end but not recognised as
receivables are as follows:
Group and Company
2014
2013
RM’000
RM’000
Not later than one year
5,509
6,382
Later than one year and not later than two years
2,597
6,263
Later than two years and not later than five years
14
2,982
8,120
15,627
The lease rental for the current financial year is disclosed in Note 4.
(d) The Company as lessor of building
The Company has entered into an operating lease arrangement with its subsidiaries for the use of office space. The lease is for a period of three years and
shall be automatically renewed for further periods of three years for each renewal unless terminated.
The future aggregate minimum lease payments receivable under the operating leases contracted for as at the financial year end but not recognised as
receivables are as follows:
Company
2014
2013
RM’000
RM’000
Not later than one year
4,607
4,607
Later than one year and not later than two years
4,607
4,607
Later than two years but not later than five years
10,513
11,615
19,727
20,829
The lease rental for the current financial year is disclosed in Notes 3 and 34(a).