272 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 33. Leases (a) Finance lease receivables - the Group as lessor Group 2023 RM million 2022 RM million Minimum lease receivables: Within 1 year 346 347 Between 1-2 years 344 344 Between 2-3 years 340 342 Between 3-4 years 330 339 Between 4-5 years 317 328 Later than 5 years 2,416 2,711 Total undiscounted lease payments 4,093 4,411 Less: Future finance income (1,998) (2,240) Net investment in finance lease 2,095 2,171 Current 97 89 Non-current 1,998 2,082 2,095 2,171 (i) In the financial year ended 31 January 2021, a subsidiary of the Company has commenced a finance lease for the chartering of an 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 was RM194 million (2022: RM178 million) (Note 6), of which RM66 million (2022: RM54 million) relates to variable lease payments which are not included in the measurement of the net investment in the lease. (ii) In the financial year ended 31 January 2020, a subsidiary of the Company commenced a finance lease for the chartering of an FPSO (FPSO Helang) to a third party for a lease term of 18 years comprising of a firm charter period 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 was RM168 million (Note 6) (2022: RM163 million), of which RM26 million (2022: RM24 million) relates to variable lease payments which are not included in the measurement of the net investment in the lease.
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