FGV Annual Report 2012

112 Felda Global Ventures Holdings Berhad 50 COMMITMENTS Group (a) Operating lease arrangements (i) The Group as lessee: The Group leases premises, railroads cars, storage tanks, meal storage facilities and certain equipments from various parties under operating lease arrangement. None of the leases includes contingent rentals. There are no restrictions placed upon the Group by entering into these leases. The future aggregate minimum lease payments under non-cancellable operating lease are as follows: Group 2012 2011 RM’000 RM’000 Within 1 year 13,558 10,406 Between 1 and 2 years 12,432 9,020 Between 2 and 3 years 11,480 6,857 Between 3 and 4 years 10,776 5,960 Between 4 and 5 years 9,844 5,232 More than 5 years 52,755 20,820 110,845 58,295 The lease payments recognised in profit or loss during the financial year amounted to RM9,887,000 (2011: RM11,202,000). (ii) The Group as lessor: Operating lease receipts represent rentals receivable by the Group for natural oil tanks and oil pipeline system rented out. The future aggregate minimum lease receivables under non-cancellable operating lease are as follows: Group 2012 2011 RM’000 RM’000 Within 1 year 1,165 1,195 Between 1 and 2 years 1,043 1,195 Between 2 and 3 years 498 1,195 Between 3 and 4 years – 598 2,706 4,183 Rental income recognised in profit or loss during the financial year amounted RM1,312,000 (2011: RM1,084,000). Notes to the Financial Statements for the financial year ended 31 December 2012