cont'd - KNM Steel Sdn Bhd

KNM GROUP BERHAD I Annual Report 201291Notes to the Financial Statements (cont’d)16. Loans and borrowings (Cont’d)16.7 Finance lease liabilitiesFinance lease liabilities are payable as follows:Present Present PresentFuture value of Future value of Future value ofminimum minimum minimum minimum minimum minimumlease lease lease lease lease leasepayments Interest payments payments Interest payments payments Interest payments31.12.2012 31.12.2012 31.12.2012 31.12.2011 31.12.2011 31.12.2011 1.1.2011 1.1.2011 1.1.2011Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000Less than one year 7,910 (1,175) 6,735 6,397 (919) 5,478 7,593 (912) 6,681Between one andfive years 20,544 (2,103) 18,441 11,805 (1,420) 10,385 11,618 (1,788) 9,830More than five years 2,407 (145) 2,262 3,493 (254) 3,239 3,481 (252) 3,22930,861 (3,423) 27,438 21,695 (2,593) 19,102 22,692 (2,952) 19,740The finance lease liabilities are subject to interest ranging from 1.88% to 19.42% (31 December 2011:4.2% to 19.4%; 1 January 2011: 4.1% to 23.1%) per annum.17. Long term payablesGroupCompanyNote 31.12.2012 31.12.2011 1.1.2011 31.12.2012 31.12.2011 1.1.2011RM’000 RM’000 RM’000 RM’000 RM’000 RM’000Social security institutions 17.1 16,672 14,673 14,988 – – –Other long term payables 4,746 6,029 10,564 – – –Amount due to a subsidiary 17.2 – – – 483,941 – –21,418 20,702 25,552 483,941 – –17.1 Amounts payable to social security institutions of foreign subsidiaries are unsecured, interest free (31December 2011: Nil; 1 January 2011: 4%) and not repayable within the next twelve months.17.2 Amount due to a subsidiary relates to advances which are unsecured, not repayable within the nexttwelve months and bear interest of 6.56% per annum.18. Deferred incomeGroupNote 31.12.2012 31.12.2011 1.1.2011RM’000 RM’000 RM’000Amount due to contract customers 12.1 237,762 390,160 57,346