Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 117 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 12. RIGHT-OF-USE ASSETS (CONT’D) (a) The leasing activities of the remaining lease assets are summarised below: (i) Leasehold land The Group has entered into 8 (2022: 7) non-cancellable operating lease agreements for the use of land. The leases are for a period ranging from 7 to 60 (2022: 7 to 60) years. The leases do not allow the Group 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. A tenancy is, however, allowed with the consent of the lessor. (ii) Factories and The Group has leased a number of factories and buildings, and motor vehicles buildings and that run between 1 and 5 (2022: 1 and 5) years, with an option to renew the lease motor vehicles after that date. (b) The leasehold land at carrying amount of RM6,924,781 (2022: RM7,014,433) is pledged as securities for the bank facilities granted to the Group. 13. INVESTMENTS IN SUBSIDIARIES The Company 2023 2022 RM RM Unquoted shares, at cost: At 1 January 154,517,895 149,560,234 Addition during the year 279,113 4,739,381 Share grant plan granted to subsidiaries’ employees - 218,280 Repayment from subsidiaries for share grant plan (218,280) - 154,578,728 154,517,895 Accumulated impairment losses (987,241) (987,241) At 31 December 153,591,487 153,530,654
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