Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 145 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 26. BANK BORROWING The Group 2022 2021 RM RM Short-term borrowing - Money market loan 19,719,600 - The short-term borrowings represent money market loan facility obtained by a subsidiary incorporated in Singapore which are rolled over every month. The money market loan facility bears effective interest rates of 5.50% per annum and is secured by legal mortgages over the Group’s right-of-use assets as disclosed in Note 12 to the financial statements and a corporate guarantee of the Company. 27. DIVIDENDS The Group/The Company 2022 2021 RM RM Second interim single-tier dividend of 2.8 sen per ordinary share in respect of the financial year ended 31 December 2020, paid on 8 April 2021 - 29,343,118 First interim single-tier dividend of 1.5 sen per ordinary share in respect of the financial year ended 31 December 2021, paid on 17 September 2021 - 23,564,271 Second interim single-tier dividend of 2.5 sen per ordinary share in respect of the financial year ended 31 December 2021, paid on 13 April 2022 39,273,785 - First interim single-tier dividend of 1.6 sen per ordinary share in respect of the current financial year, paid on 20 September 2022 25,135,222 - 64,409,007 52,907,389 On 23 February 2023, the Company announced a second interim single-tier dividend of 2.6 sen per ordinary share in respect of the financial year ended 31 December 2022 subject to shareholders’ approval at the coming Annual General Meeting. The financial statements for the current financial year do not reflect this interim dividend. Such dividend will be accounted for in the shareholders’ equity as an appropriation of retained earnings in the financial year ending 31 December 2023.
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