Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

154
Notes to the Financial Statements
For the fi nancial year ended 31 December 2011
39. Commitments (contd.)
(d) Finance lease commitments
The Group has fi nance leases for certain items of equipment (Note 13). These leases do not have terms
of renewal, but have purchase options at nominal values at the end of the lease term.
Future minimum lease payments under fi nance leases together with the present value of the net
minimum lease payments are as follows:
Group
2011 2010
RM’000 RM’000
Minimum lease payments:
Not later than 1 year 147 223
Later than 1 year and not later than 2 years 18 151
Later than 2 years and not later than 5 years 16 34
Total minimum lease payments 181 408
Less: Amounts representing fi nance charges (11 ) (9 )
Present value of minimum lease payments 170 399
Present value of payments:
Not later than 1 year 138 218
Later than 1 year and not later than 2 years 16 149
Later than 2 years and not later than 5 years 16 32
Present value of minimum lease payments 170 399
Less: Amount due within 12 months (Note 29) (138 ) (218 )
Amount due after 12 months (Note 29) 32 181
40. Contingencies
(a) Contingent liabilities
(i) In 2001, CMS Capital Sdn. Bhd., a subsidiary of the Company, had provided an indemnity to the
purchaser of Sarawak Securities Sdn. Bhd. against several legal suits fi led by former remisiers in
the Industrial Court of Malaysia claiming reinstatement of employment. The subsidiary’s directors
are of the opinion that these remisiers would not be entitled to such claims. Accordingly no
provision has been made in this respect.
(ii) A legal suit has been fi led by a former employee in the Industrial Court of Malaysia against a
subsidiary alleging wrongful dismissal and claiming reinstatement to his former position and/
or other relief that the Court deems fi t and proper. As the Industrial Court has yet to make a
decision/award in the matter, it is not possible to determine the Group’s potential liability (if any)
at this juncture.
(iii) Group
2011 2010
RM’000 RM’000
Cahya Mata Sarawak Berhad
Share of contingent liabilities of associates 3,071 3,071