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