248 F INANC IAL Statements 05 Sect ion Ranhi ll Ut i l i t i es Berhad NOTES TO THE F INANC I AL STATEMENTS For the year ended 31 December 2022 42. COMMITMENTS (a) Capital commitments Capital expenditure as at the reporting date is as follows: Group 2022 RM’000 2021 RM’000 Approved and contracted for 5,170 10,147 Approved but not contracted for 8,225 17,207 13,395 27,354 Analysed as follows: Plant and machineries 4,600 2,370 Office equipment 450 100 Furniture and fittings 500 105 Computer equipment 3,735 2,595 Replacement parts 280 50 Motor vehicle 260 470 Repowering capital expenditure 3,570 21,559 Renovation - 100 Others - 5 13,395 27,354 (b) Hire purchase commitments The Group has entered into hire purchases agreements for certain items of right-of-use assets as disclosed in Note 17. 43. FINANCIAL GUARANTEE CONTRACTS Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Corporate guarantee given to financial institution for the borrowing of a subsidiary - - 70,000 40,000 Performance bonds 23,635 16,987 - - Utility guarantee 25 25 - - 23,660 17,012 70,000 40,000 RWSB has secured bank guarantee facilities amounting to RM55,000,000 obtained from a licensed bank. The said bank guarantee facilities are secured by corporate guarantee provided by Worley Financial Services Pty. Limited, which is a related company of Worley Engineering Pty. Ltd, the shareholder of RWSB. As of the end of the reporting period, RM23,660,000 (2021: RM17,012,000) of the facilities have been utilised.
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