Yinson Annual Report 2018

33. FINANCE LEASES (a) Finance lease receivables Group 2018 RM’000 Minimum lease receivables: Within 1 year 2,697 More than 1 year and less than 5 years 10,787 More than 5 years 23,822 37,306 Less: Future finance income (22,674) Present value of finance lease receivables 14,632 Present value of finance lease receivables Amount due within 12 months 343 Amount due after 12 months 14,289 14,632 During the financial year, the Group has entered into a 14 years lease arragement for a parcel of land and buildings. At the end of lease term, the lessee has the exclusive rights to purchase the leased properties. (b) Obligations under finance leases Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Minimum lease commitments: Within 1 year 350 338 211 211 More than 1 year and less than 2 years 168 338 76 211 More than 2 years and less than 5 years – 168 – 75 Total minimum lease payments 518 844 287 497 Less: Amounts representing finance charges (18) (47) (9) (25) Present value of minimum lease payments 500 797 278 472 Present value of payments: Within 1 year 335 309 203 194 More than 1 year and less than 2 years 165 323 75 203 More than 2 years and less than 5 years – 165 – 75 Present value of minimum lease payments 500 797 278 472 Less: Amount due within 12 months (Note 32) (335) (309) (203) (194) Amount due after 12 months (Note 32) 165 488 75 278 The finance lease liabilities are secured by charges over the leased assets (Note 16) and secured by corporate guarantees from the Company. The discount rates implicit in the leases ranges from 2.34% to 2.43% (2017: 2.34% to 2.43%) per annum. Corporate Overview Stewardship Governance Accountability 167 Yinson Holdings Berhad Annual Report 2018