| Figures in Rand thousand |
2020 |
|
2019 |
|
| Gross investment in the leases due |
|
|
|
|
| – within one year |
78 805 |
|
87 664 |
|
| – within two to five years |
77 627 |
|
132 018 |
|
| – beyond five years |
– |
|
5 |
|
| |
156 432 |
|
219 687 |
|
| Less: Unearned finance income |
(27 398) |
|
(31 274) |
|
| |
129 034 |
|
188 413 |
|
| Impairment allowance |
(6 194) |
|
(9 000) |
|
| |
122 840 |
|
179 413 |
|
| Present value of minimum lease payments due: |
|
|
|
|
| – within one year |
67 720 |
|
72 638 |
|
| – within two to five years |
61 314 |
|
115 771 |
|
| – beyond five years |
– |
|
4 |
|
| |
129 034 |
|
188 413 |
|
| Impairment allowance |
(6 194) |
|
(9 000) |
|
| |
122 840 |
|
179 413 |
|
| Lease receivables |
|
|
|
|
| Current |
67 720 |
|
72 638 |
|
| Non-current |
55 120 |
|
106 775 |
|
| |
122 840 |
|
179 413 |
|
The Group entered into finance leasing agreements where it is the lessor for certain IT safety and security access equipment.
The lease terms are generally three to seven years and the interest rate implicit in the lease is prime to 7% above prime lending rates (2019: prime to 7% above prime lending rates).
Income received from finance leases is fixed. |