Kimlun Corporation Berhad Annual Report 2018

29. Commitments (a) Capital commitments Group 31.12.2018 31.12.2017 1.1.2017 RM RM RM Capital commitments as at the reporting date are as follows: Approved and contracted for: Property, plant and equipment 9,071,347 20,283,369 5,012,448 Land held for development 67,749,598 - - Approved and not contracted for: Property, plant and equipment - - 5,573,258 (b) Finance lease commitments The Group has finance leases for certain items of plant and equipment (Note 12). Future minimum lease payments under finance leases together with the present value of the net minimum lease payments are as follows: Group 31.12.2018 31.12.2017 1.1.2017 RM RM RM Minimum lease payments: Not later than 1 year 30,462,064 21,578,136 8,195,167 Later than 1 year but not later than 2 years 23,452,664 19,862,752 5,295,339 Later than 2 years but not later than 5 years 30,321,659 23,598,535 4,820,563 More than 5 years 3,064,637 2,435,330 1,034,714 Total minimum lease payments 87,301,024 67,474,753 19,345,783 Less: Amounts representing finance charges (8,420,076) (6,712,629) (1,538,117) Present value of minimum lease payments 78,880,948 60,762,124 17,807,666 Present value of payments: Not later than 1 year 26,524,012 18,687,338 7,406,980 Later than 1 year but not later than 2 years 20,970,655 17,848,477 4,857,203 Later than 2 years but not later than 5 years 28,397,362 21,844,669 4,531,985 More than 5 years 2,988,919 2,381,640 1,011,498 Present value of minimum lease payments 78,880,948 60,762,124 17,807,666 Less: Amount due within 12 months (Note 22) (26,524,012) (18,687,338) (7,406,980) Amount due after 12 months (Note 22) 52,356,936 42,074,786 10,400,686 Kimlun Corporation Berhad 111 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2018 (cont’d)