Kimlun Corporation Berhad Annual Report 2018

29. Commitments (cont’d) (c) Operation lease commitment - as lessee The Group has minimum lease payments recognised in profit or loss for the financial year ended 31 December 2018 amounting to RM4,262,010 (2017: RM3,874,288). Future minimum rentals payable under operating leases at the reporting date are as follows: Group 31.12.2018 31.12.2017 1.1.2017 RM RM RM Not later than 1 year 3,832,973 2,054,030 2,933,073 Later than 1 year but not later than 5 year 2,152,060 400,190 1,511,910 5,985,033 2,454,220 4,444,983 30. Fair value (a) Fair values of assets The following table shows an analysis of assets measured at fair value or for which fair values are disclosed by level of fair value hierarchy: Group Level 1 Level 2 Level 3 Total RM RM RM RM 31.12.2018 Assets for which fair values are disclosed: Investment properties - - 9,348,000 9,348,000 31.12.2017 Assets for which fair values are disclosed: Investment properties - - 10,026,000 10,026,000 Assets measured at fair value: Other investments 294,669 - - 294,669 1.1.2017 Assets for which fair values are disclosed: Investment properties - - 6,060,000 6,060,000 Assets measured at fair value: Other investments 180,431 - - 180,431 The fair values of investment properties are determined by the Directors using the comparable method. (b) Financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximations of fair value The following are classes of financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximations of fair value: Note Trade and other receivables (current) 20 Cash and bank balances (current) 21 Loans and borrowings (current) 22 Loans and borrowings (non-current) 22 Trade and other payables (current) 23 Annual Report 2018 112 For the financial year ended 31 December 2018 (cont’d) NOTES TO THE FINANCIAL STATEMENTS