FGV Audited Financial Statements 2019

112 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 21 RIGHT-OF-USE ASSETS (CONTINUED) Group (continued) As at 31 December 2019, the carrying amount of right-of-use assets under land arrangements with FELDA amounted to RM21,441,000 (2018: RM24,033,000). FELDA is in the midst of applying the land titles from respective state authorities. Company Buildings RM’000 2019 Cost At 1 January 2019, effects of adoption of MFRS 16 (Note 62)/31 December 2019 39,251 Accumulated depreciation At 1 January 2019, effects of adoption of MFRS 16 (Note 62) 1,454 Charge for the financial year 4,361 At 31 December 2019 5,815 Net book value at 31 December 2019 33,436 2018 Cost At 1 January 2018, effects of adoption of MFRS 16 (Note 62) 26,132 Additions 39,251 Termination of lease contracts (26,132) At 31 December 2018 39,251 Accumulated depreciation At 1 January 2018, effects of adoption of MFRS 16 (Note 62) 12,703 Charge for the financial year 5,809 Termination of lease contracts (17,058) At 31 December 2018 1,454 Net book value at 31 December 2018 37,797 Net book value at 1 January 2018 13,429 Total cash outflow for leases of the Group and the Company are as follows: Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Short term lease payments 4,149 6,172 181 - Rental of low value assets 2,876 4,985 - - Payments of lease liabilities 39,121 47,141 5,025 6,567 46,146 58,298 5,206 6,567