11. RIGHT-OF-USE ASSETS/(LEASE LIABILITIES) (continued) The Group as lessee (continued) Group Represented by: 2024 2023 RM9000 RM9000 Current liabilities 844 365 Non-current liabilities 994 77 1,838 442 Lease liabilities owing to financial institutions - 15 Lease liabilities owing to non-financial institutions 1,838 427 1,838 442 (a) Nature of the leasing activities Leasehold land, buildings and condominiums The Group has made upfront payments to secure the right-of-use of leasehold land, buildings and condominiums for its operations. The Group also leases warehouses and residential properties for the purpose of staff accommodation. These leasehold land and buildings, and related leases which have a lease term of more than 12 months are recognised within property, plant and equipment (Note 5). Motor vehicles The Group leases motor vehicles for employees for use in operations. (b) The right-of-use assets under property, plant and equipment are initially measured at cost, which comprise the initial amount of the lease liabilities adjusted for any lease payments made at or before the commencement date. After initial recognition, right-of-use assets are stated at cost less accumulated depreciation and any accumulated impairment losses, and adjusted for any remeasurement of the lease liabilities. The Group has certain leases with lease term less than twelve (12) months, and low value leases of office of RM20,000 and below. The Group applies the <shortterm lease= and <lease of low-value assets= exemptions for these leases. The right-of-use assets are depreciated on a straight-line basis over the earlier of the estimated useful lives of the right-of-use assets or the end of the lease term as disclosed in Note 5 (a) to the financial statements. (c) Additions to right-of-use assets during the financial year Group 2024 2023 RM9000 RM9000 Buildings 2,024 101 ANNUAL REPORT 2024 HOLDINGS BERHAD Financial Statements (continued) 116
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