annual report - Tenaga Nasional Berhad

Notes To The Financial Statements37 RETAINED PROFITSSubject to agreement by the Inland Revenue Board, the Company has sufficient tax credits under Section 108 of theIncome Tax Act, 1967 available to frank approximately RM1,739.0 million (2007: RM1,858.3 million) of its retained profitsas at 31 August 2008, if paid out as dividends. The remaining profits of RM13,431.8 million (2007: RM11,427.2 million)can be distributed as exempt dividends under the Single Tier Tax system.In addition, the Company has tax exempt income as at 31 August 2008 arising from the Income Tax (Amendment) Act,1999, relating to tax on income earned in 1999 being waived and exempt dividend income amounting to approximatelyRM247.3 million (2007: RM47.3 million) available for distribution as tax exempt dividends to shareholders. This tax exemptincome is subject to agreement by the Inland Revenue Board.38 COMMITMENTS(a) Capital and other commitments for 5 yearsG group Company2008 2007 2008 2007RM’million RM’million RM’million RM’millionAuthorised capital expenditurenot provided in the financial statementsContracted 548.0 1,141.2 284.6 912.9Not contracted 16,352.9 11,580.6 15,964.3 11,283.516,900.9 12,721.8 16,248.9 12,196.4(b)Non-cancellable operating lease commitmentsgroup and Company2008 2007RM’million RM’million[ Tenaga Nasional Berhad ] [ Annual Report 2008 ]248Future minimum lease paymentsNot later than one year 13.3 13.3Later than one year and not later than five years 11.0 24.324.3 37.6The above lease payments relate to the non-cancellable operating leases of the Group and the Company.