2020 UEM Edgenta Annual Report

27. BORROWINGS (CONTD.) d. Syndicated banking facilities (secured) A subsidiary of the Group has Syndicated Banking Facilities which comprise revolving credits, bank guarantees and combined trade facilities. T he Syndicated Banking Facilities are secured by a Debenture and a Deed of Assignment of Proceeds dated 27 December 1996 by way of the following: i. A first fixed charge over all sums paid or may from time to time become due and payable to the subsidiary (“the Proceeds”) by the Government of Malaysia pursuant to the Concession Agreement dated 28 October 1996, all its uncalled capital, its present and future goodwill, patents, trademarks, licenses and concessions and all its present and future plant, equipment and machinery, motor vehicles and furniture and fittings; and ii. A first floating charge over all the present and future lands undertakings and other properties and assets of the subsidiary both movable and immovable, not otherwise charged in (d)(i) above. Reconciliation of liabilities arising from financing activities Group Company RM’000 2020 2019 2020 2019 As at 1 January 519,068 532,465 301,840 301,815 Adjustment upon adoption of MFRS 16 – (3,127) – – As at 1 January 519,068 529,338 301,840 301,815 Cash flows: Drawdown of borrowings 74,384 125,331 50,000 50,000 Repayment of borrowings (114,894) (137,127) (50,000) (50,000) Interest paid (20,490) (24,181) (13,823) (14,247) Non-cash changes: Amortisation of capitalised transaction costs 492 679 119 125 Other changes 24,594 25,028 13,923 14,147 As at 31 December 483,154 519,068 302,059 301,840 Included in the other changes are the effects of foreign currency translations and accrued but not yet paid interest on interest-bearing loans and borrowings. The Group classifies interest paid as cash flows from operating activities. ANNUAL REPORT 2020 269 1 2 3 4 5 6 7 8