Yinson Annual Report 2020

291 Annual Report 2020 33. Leases (CONTINUED) (c) Obligations under finance leases (continued) Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Present value of payments: Within 1 year - 349 - 22 More than 1 year and less than 2 years - 470 - - More than 2 years and less than 5 years - 556 - - Present value of minimum lease payments - 1,375 - 22 Less: Amount due within 12 months - (349) - (22) Amount due after 12 months - 1,026 - - 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 ranged from 1.98% to 3.22% per annum. 34. Unfavourable contracts Group 2020 RM’000 2019 RM’000 Cost At 1 February 113,078 108,040 Exchange differences (203) 5,038 At 31 January 112,875 113,078 Accumulated amortisation At 1 February 108,172 84,657 Amortisation (Note 7) 4,958 19,436 Exchange differences (255) 4,079 At 31 January 112,875 108,172 Net carrying amount - 4,906 Amount to be amortised: - Current - 4,906 - Non-current - - - 4,906