Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 100 20. Lease liabilities (continued) (b) Contractual payment for land use rights (continued) ii. SDSB had also entered into another Joint Venture Agreement (“JVA B”) with a third party (“the Land Owner B”) on 28 November 2018 to develop a land (the Proposed Development in (i) and the land, as “the Project Land B”). Through the JVA B, Land Owner B shall contribute the Project Land B for the Proposed Development and SDSB shall undertake the Proposed Development pursuant to and in accordance with the provision of the JVA B. SDSB shall be solely responsible for the entire costs and expenses of the Proposed Development and obtaining all funds and necessary financing in respect thereof. Pursuant to the JVA B, SDSB is obliged to pay to Land Owner B an amount of RM150 million. As of 30 June 2021, the outstanding balance owing to Land Owner B is RM15.1 million. On 3 rd March 2020, SDSB has transferred the power of attorney for JVA A and JVA B to Serba Dinamik Development Sdn. Bhd. a wholly own subsidiary of SDGB. (c) Finance lease liabilities Finance lease liabilities relate to leases of motor vehicles, tools and equipment and plant and machinery recognised in accordance with MFRS 16: Leases. (d) Other lease liabilities Other lease liabilities are relating to leases of buildings recognised in accordance with MFRS 16: Leases. 21. Loans and borrowings Group Company 30.6.2021 31.12.2019 30.6.2021 31.12.2019 RM’000 RM’000 RM’000 RM’000 Non-current Term loans (Islamic) - secured 360,081 148,993 - - Term loans (Islamic) - unsecured 1,202,225 778,825 731,022 778,825 Term loan - secured - 339 - - Sukuk (Islamic) - unsecured 729,084 2,010,467 - - 2,291,390 2,938,624 731,022 778,825