58 14.4 Hire purchase/financial lease receivables classified by aging As at 31 December 2021 and 2020, the subsidiaries, which are engaged in hire purchases and financial leases businesses, have hire purchase and financial lease receivables. These mostly comprise hire purchase agreements or financial lease agreements for cars, trucks and motorcycles. The terms of the agreements are generally between 2 and 5 years and they carry interest at fixed rates stipulated in the agreements. (Unit: Million Baht) Consolidated financial statements 2021 Amounts due under lease agreements Not over 1 year (1) Over 1 year but not over 2 years Over 2 years but not over 3 years Over 3 years but not over 4 years Over 4 years but not over 5 years Over 5 years Total Gross investment in the lease 21,941 15,428 10,102 5,615 1,672 28 54,786 Less: Unearned finance income (2) (2,697) (1,592) (786) (269) (43) - (5,387) Present value of minimum lease payments receivables 19,244 13,836 9,316 5,346 1,629 28 49,399 Allowance for expected credit loss (1,916) Hire purchase/financial lease receivables - net 47,483 (1) Hire purchase/financial lease receivables due within one year included credit impair receivables (2) Net of deferred initial direct costs of hire purchase/financial lease (Unit: Million Baht) Consolidated financial statements 2020 Amounts due under lease agreements Not over 1 year (1) Over 1 year but not over 2 years Over 2 years but not over 3 years Over 3 years but not over 4 years Over 4 years but not over 5 years Over 5 years Total Gross investment in the lease 21,618 15,365 10,143 4,921 1,218 20 53,285 Less: Unearned finance income (2) (2,792) (1,059) (846) (478) (130) (1) (5,306) Present value of minimum lease payments receivables 18,826 14,306 9,297 4,443 1,088 19 47,979 Allowance for expected credit loss (1,659) Hire purchase/financial lease receivables - net 46,320 (1) Hire purchase/financial lease receivables due within one year included credit impair receivables (2) Net of deferred initial direct costs of hire purchase/financial lease 274
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