FGV Annual Report 2015

339 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING Notes to the Financial Statements For The Financial Year Ended 31 December 2015 ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 54 COMMITMENTS (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 arrangements. 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 2015 2014 RM’000 RM’000 Within 1 year 26,599 21,818 Between 1 and 2 years 19,628 21,090 Between 2 and 3 years 7,815 15,273 Between 3 and 4 years 5,549 12,539 Between 4 and 5 years 3,487 10,073 More than 5 years 9,431 34,371 72,509 115,164 The lease payments recognised in profit or loss during the financial year amounted to RM19,248,000 (2014: RM7,918,000). (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 2015 2014 RM’000 RM’000 Within 1 year 2,215 524 Between 1 and 2 years 2,215 - Between 2 and 3 years 2,215 - Between 3 and 4 years 2,215 - Between 4 and 5 years 2,215 - 11,075 524 Rental income recognised in profit or loss during the financial year amounted RM1,442,000 (2014: RM1,341,000).