FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 310 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 54 COMMITMENTS (Con’d.) (a) Operating lease arrangements (Cont’d.) (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 2013 2012 RM’000 RM’000 Within 1 year 1,008 1,165 Between 1 and 2 years 439 1,043 Between 2 and 3 years - 498 1,447 2,706 Rental income recognised in profit or loss during the financial year amounted RM309,000 (2012: RM1,312,000). (b) Capital commitments Group 2013 2012 RM’000 RM’000 Capital expenditure approved and contracted for: - Property, plant and equipment 444,787 92,507 - Biological assets 10,639 - - Intangible assets 1,367 - Capital expenditure approved but not contracted for: - Property, plant and equipment 413,930 296,724 - Biological assets 66,101 31,963 Investment in subsidiaries 85,629 - 1,022,453 421,194 55 CONTINGENT LIABILITIES (i) On 3 September 2010, FPISB and FELDA were sued by 514 settlers of Felda Serting Scheme and 252 settlers of Felda Gugusan Raja Alias Scheme in Jempol, Negeri Sembilan for alleged fraud and manipulation of the extraction rate for palm oil. The claim amounted to RM15.4 million for year the 2008 only. The matter is still on going for trial and will be continued hearing on 5,8 and 9 May 2014. (ii) On 12 July 2011, FPISB and FELDA were sued by 711 settlers of Felda Jengka 1 to 25 and Felda Sg. Tekam in Temerloh, Pahang (Jengka A) for alleged fraud and manipulation of the extraction rate of palm oil. The claim amounted to RM22.9 million for year the 2008 only. This case was called for mention on 18 September 2013 and the Judge has ordered the Plaintiffs to determine who actually has the locus standi to sue in this suit and to determine which Plaintiffs have signed agreements with Felda. The matter is now fixed for trial on 8 to 11 July 2014. (iii) On 10 November 2011, FPISB and FELDA were sued by 365 settlers of Felda Jengka 1 to 7, 10, 13 to 19, 23 to 24, Felda Ulu Jempol and Felda Sg. TekamUtara (Jengka B) for alleged fraud and manipulation of the extraction rate of palm oil. The claim amounted to RM11.7 million for the year 2008 only. The Court had on 19 April 2012 allowed an order in terms for application by FELDA and FPISB to strike out 20 Plaintiffs with costs. The matter is now fixed for trial on 11 to 15 August 2014.