PRG Holdings Berhad Annual Report 2019
ANNUAL REPORT 2019 155 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 23. BORROWINGS (continued) (b) Hire purchase creditors Group 2019 2018 RM’000 RM’000 Minimum hire purchase payments: - not later than one (1) year - 643 - later than one (1) year but not later than five (5) years - 237 Total minimum hire purchase payments - 880 Less: Future interest charges - (41) Present value of hire purchase payments - 839 Repayable as follows: Current liabilities - not later than one (1) year - 613 Non-current liabilities - later than one (1) year but not later than five (5) years - 226 - 839 The hire purchase liabilities are secured by assets acquired under hire purchase arrangements. During the financial year, the hire purchase liabilities have been transferred to lease liabilities account upon adoption of MFRS 16. (c) The currency exposure profile of borrowings are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 21,575 28,436 - - United States Dollar 123 - - - Hong Kong Dollar 8,411 15,060 8,411 15,060 Singapore Dollar 2,890 - - - Vietnamese Dong - 3,097 - - 32,999 46,593 8,411 15,060 (d) The borrowings of the Group and of the Company bear the following interest rates per annum: Group Company 2019 2018 2019 2018 % % % % Term loans 4.97 - 7.50 4.62 - 8.50 6.0 8.5 Trade bills 3.80 - 7.00 7.00 - 7.80 - - Hire purchase creditors - 2.50 - 6.27 - - Bank overdraft 8.89 6.90 - 8.92 - -
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