Yinson Annual Report 2021

282 YINSON HOLDINGS BERHAD SECTION 07 : ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 33. Leases (a) Finance lease receivables - the Group as lessor Group 2021 2020 RM million RM million Minimum lease receivables: Within 1 year 333 190 Between 1-2 years 335 190 Between 2-3 years 331 189 Between 3-4 years 329 186 Between 4-5 years 326 184 Later than 5 years 2,922 2,212 Total undiscounted lease payments 4,576 3,151 Less: Future finance income (2,410) (1,602) Net investment in finance lease 2,166 1,549 Current 77 48 Non-current 2,089 1,501 2,166 1,549 (i) In the financial year ended 31 January 2018, the Group entered into a 14-years lease arrangement for a parcel of land and buildings. At the end of the lease term, the lessee has the exclusive rights to purchase the lease properties at a certain fixed purchase price. Finance income on the net investment in the lease during the financial year is RM2 million (2020: RM2 million) (Note 8). (ii) During the current financial year, a subsidiary of the Company has commenced a finance lease for the chartering of a FPSO (FPSO Abigail-Joseph) to a third party for a lease term of 12 years, comprising a firm charter period of 7 years and extension option periods of 5 years. Management has assessed that it is reasonably certain for the charterer to exercise the extension options for 5 years out of the 8 years' extension options as set out in the charter agreement. Finance income on the net investment in the lease during the financial year is RM45 million (Note 6), of which RM12 million relates to variable lease payments which is not included in the measurement of the net investment in the lease. (iii) In the financial year ended 31 January 2020, a subsidiary of the Company commenced a finance lease for the chartering of a FPSO (FPSO Helang) to a third party for a lease term of 18 years comprising of a firm charter period of 8 years and annual extension option periods of up to 10 years. Finance income on the net investment in the lease during the financial year is RM169 million (Note 6) (2020: RM26 million), of which RM25 million (2020:RM4 million) relates to variable lease payments which are not included in the measurement of the net investment in the lease.