Tropicana Corporation Berhad Annual Report 2020

32. BORROWINGS Group Company 2020 2019 2020 2019 RM'000 RM'000 RM'000 RM'000 Non-current Secured: Bridging loans – 1,970 – – Revolving credits 165,260 – – – Term loans 1,729,912 1,591,310 317,710 128,800 Islamic Medium Term Notes (Note 32(b)) 1,207,000 – 1,207,000 – Hire purchase (Note 32(a)) – 295 – 199 Less: Unamortised borrowing costs (24,130) (16,663) (406) (895) 3,078,042 1,576,912 1,524,304 128,104 Current Secured: Bridging loans – 237,284 – – Revolving credits 272,386 358,160 99,750 190,420 Term loans 205,456 352,760 28,567 18,160 Hire purchase (Note 32(a)) – 426 – 44 Bank overdrafts (Note 26) 19,612 – 19,612 – Margin account 29,480 – – – Less: Unamortised borrowing costs (8,205) (6,427) (472) (638) 518,729 942,203 147,457 207,986 Total borrowings Secured: Bridging loans – 239,254 – – Revolving credits 437,646 358,160 99,750 190,420 Term loans 1,935,368 1,944,070 346,277 146,960 Islamic Medium Term Notes (Note 32(b)) 1,207,000 – 1,207,000 – Hire purchase (Note 32(a)) – 721 – 243 Bank overdrafts (Note 26) 19,612 – 19,612 – Margin account 29,480 – – – Less: Unamortised borrowing costs (32,335) (23,090) (878) (1,533) 3,596,771 2,519,115 1,671,761 336,090 Unamortised borrowing costs: At 1 January 23,090 22,648 1,533 2,259 Incurred during the financial year 20,161 10,497 – – Amortisation for the financial year (Note 8) (10,916) (10,055) (655) (726) At 31 December 32,335 23,090 878 1,533 32. BORROWINGS (CONT'D.) Group Company 2020 2019 2020 2019 RM'000 RM'000 RM'000 RM'000 Maturities of borrowings: Not later than 1 year 526,934 948,630 147,929 208,624 Later than 1 year and not later than 5 years 2,476,894 1,081,020 1,324,710 128,999 More than 5 years 625,278 512,555 200,000 – Less: Unamortised borrowing costs (32,335) (23,090) (878) (1,533) Total 3,596,771 2,519,115 1,671,761 336,090 The range of interest rates per annum at the reporting date for borrowings were as follows: 2020 2019 % % Bridging loans 3.94 - 5.45 4.92 - 6.05 Revolving credits 3.20 - 7.20 4.93 - 7.45 Term loans 3.75 - 6.12 4.92 - 9.21 Islamic Medium Term Notes 5.45 - 5.80 – Bank overdrafts 6.71 - 6.96 6.56 - 6.96 Margin account 3.40 - 5.45 – The bridging loans, revolving credits and term loans of the Group and of the Company are secured by certain assets of the Group and of the Company as follows: (a) fixed charge over certain property, plant and equipment as disclosed in Note 15; (b) fixed charge over certain inventories as disclosed in Note 16; (c) fixed charge over certain investment properties as disclosed in Note 17; (d) fixed charge over certain contract cost assets as disclosed in Note 25; (e) fixed charge over certain assets classified as held for sale as disclosed in Note 27; (f) fixed charge over certain right-of-use assets as disclosed in Note 35; (g) legal assignment of all cashflows, sale or tenancy agreements, insurance policies, construction contracts, construction guarantees and performance bonds in relation to certain projects developed by subsidiaries; (h) fixed and floating charge over the assets of certain subsidiaries; (i) specific debentures creating fixed and floating charges over certain Charged Properties of the Company and certain subsidiaries of the Group; and (j) corporate guarantees provided by the Company. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 262 263