Yinson Annual Report 2019

193 Yinson Group Overview Strategy and Sustainability Governance Accountability Annual General Meeting 39. COMMITMENTS Group 2019 2018 RM’000 RM’000 (a) Capital commitments Approved and contracted for: - Property, plant and equipment 485,977 197,950 - Investment – 201,065 Approved but not contracted for: - Property, plant and equipment 255,743 1,522,658 - Investment – 1,005,089 741,720 2,926,762 (b) Operating lease commitments – Group as lessee The Group has entered into leases for the use of premises and equipment. These leases have remaining tenures ranging between 1 year to 7 years with options to extend for the lease periods mutually agreed between the lessees and lessors. The Group is restricted from leasing the leased premises to third parties. Future minimum rentals payable under non-cancellable operating leases at the reporting date are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Within 1 year 10,793 7,056 2,401 1,415 More than 1 year and less than 5 years 21,719 25,512 835 1,385 More than 5 years 218 87 – – 32,730 32,655 3,236 2,800 (c) Operating lease commitments – Group as lessor The Group has entered into leases for its vessels. These non-cancellable leases have remaining lease term of between 2.5 months to 13.5 years and subject to revision on the rental charge where contractually applicable. Future minimum rentals receivable under non-cancellable operating leases at the reporting date are as follows: Group 2019 2018 RM’000 RM’000 Within 1 year 596,444 809,568 More than 1 year and less than 5 years 3,484,791 2,568,076 More than 5 years 4,641,334 4,194,612 8,722,569 7,572,256 Chartering fees from leasing of vessels recognised in profit or loss during the financial year are disclosed in Note 6. Subsequent to the financial year, the Group has secured additonal projects as disclosed in Note 48(a) and (c).