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annual report | 2012 Gunung Capital Berhad (330171-P)<br />
86<br />
NOTES TO THE FINANCIAL STATEMENTS (cont’d)<br />
31 DECEMBER 2012<br />
33 COMMITMENTS<br />
a) Capital commitments<br />
At the end of the reporting period, the Group has the following commitment for the acquisition of property,<br />
plant and equipment:-<br />
Group<br />
Approved and contracted for - 9,550,000<br />
b) Operating lease commitments – as lessor<br />
The Group has entered into an agreement to lease its motor vehicles to a related party. This non-cancellable lease<br />
has remaining terms of one year provided that all the leased motor vehicles are properly licensed and insured<br />
during the lease period. There is no clause to enable revision of the rental charge.<br />
Future minimum rentals receivable under non-cancellable operating leases as at the end of the reporting period<br />
are as follows:<br />
Group<br />
Not later than 1 year 5,040,000 5,040,000<br />
Later than 1 year but not later than 5 years - 5,040,000<br />
34 FINANCIAL GUARANTEES<br />
2012<br />
RM<br />
2012<br />
RM<br />
2011<br />
RM<br />
2011<br />
RM<br />
5,040,000 10,080,000<br />
Group and Company<br />
The notional amount of corporate guarantees given to<br />
banks in respect of banking and leasing facilities granted to subsidiaries 79,800,000 79,800,000<br />
2012<br />
RM<br />
The fair value of the financial guarantees at the date of inception and subsequent amortised costs is nil.<br />
2011<br />
RM