126
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
25. CONTINGENT LIABILITIES
Group
Company
2014
2013
2014
2013
RM
RM
RM
RM
Secured
Bank guarantee in favour of third party
- performance bond
100,000
171,799
100,000
100,000
Unsecured
Corporate guarantee given to banks for credit
facilities granted to subsidiaries
-
- 89,000,000
-
100,000
171,799 89,100,000
100,000
(a) The bank guarantee is secured by pledge of deposits with licensed banks of the Group and of the
Company as disclosed in Note 20 to the financial statements.
(b) The Directors are of the view that the chances of the financial institutions to call upon the corporate
guarantees are remote. Accordingly, the fair values of the above corporate guarantees given to
subsidiaries for the banking facilities are negligible.
26. COMMITMENTS
(a) Operating lease commitments
(i) The Group and the Company as lessee
The Group and the Company had entered into lease agreements for land and buildings.
Group
2014
2013
RM
RM
Not later than one (1) year
2,376,693
982,005
Later than one (1) year and not later than five (5) years
4,506,864
420,354
6,883,557 1,402,359
Company
2014
2013
RM
RM
Not later than one (1) year
37,805
38,570
Later than one (1) year and not later than five (5) years
37,805
38,570
75,610
77,140
