Kimlun Corporation Berhad Annual Report 2019

Annual Report 2019 Kimlun Corporation Berhad NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2019 (cont’d) 136 24. Lease liabilities 2019 2018 RM RM Current Lease liabilities (Note 32(c)) 3,334,634 - Non-current Lease liabilities (Note 32(c)) 3,009,002 - Total lease liabilities (Note 25) 6,343,636 - The remaining maturities of the lease liabilities are as follows: 2019 2018 RM RM Within one year 3,334,634 - More than 1 year and less than 2 years 1,950,264 - More than 2 years and less than 5 years 1,058,738 - 6,343,636 - The movement of lease liabilities during the financial year is as follows: 2019 2018 RM RM At 1 January - - Effect of adoption of MFRS 16 Leases (Note 2.2) 9,828,659 - Additions (Note 13) 1,689,568 - Derecognition (1,723,991) - Interest charged on lease liabilities (Note 6) 560,880 - Payments of: - Principal (3,450,600) - - Interest (560,880) - At 31 December 6,343,636 - At the reporting date, the interest rate of the lease liabilities ranged from 4.92% to 7.00% (2018: Not applicable). Group Group Group The Group has entered into non-cancellable operating lease agreements for the use of land, buildings, machinery and equipment, which are recognised as right-of-use assets as disclosed in Note 13.