ACCOUNTABILITY | FINANCIAL STATEMENTS 295 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 38. COMMITMENTS (CONTINUED) (b) Operating lease commitments - Group as lessor The Group entered into a lease for its FPSO. As at 31 January 2024, this non-cancellable lease had remaining lease term of 9 years (2023: 10 years) and it is subject to revision on the rental charge where contractually applicable. Future minimum rentals receivable under non-cancellable operating lease at the reporting date were as follows: Group 2024 RM million 2023 RM million Within 1 year 612 548 More than 1 year and less than 5 years 2,443 2,194 More than 5 years 2,033 2,375 5,088 5,117 Chartering fees from leasing of FPSOs recognised in profit or loss during the financial year are disclosed in Note 6. 39. FAIR VALUE MEASUREMENT (a) Fair value hierarchy The following table provides the fair value measurement hierarchy of the Group’s assets and liabilities. Fair value measurement using Quoted prices in active market Level 1 RM million Significant observable inputs Level 2 RM million Significant unobservable inputs Level 3 RM million Total RM million Group At 31 January 2024 Non-financial asset: Investment properties - - 15 15 Financial assets: Interest rate swaps - 384 - 384 Other investments - - 74 74 Financial liabilities: Foreign exchange forwards - 24 - 24 Interest rate swaps - 28 - 28
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