32. BORROWINGS Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Non-current Secured: Revolving credits 145,000 165,260 – – Term loans 1,747,742 1,729,912 201,600 317,710 Islamic Medium Term Notes (Note 32(a)) 1,500,000 1,207,000 1,500,000 1,207,000 Less: Unamortised borrowing costs (21,575) (24,130) – (406) 3,371,167 3,078,042 1,701,600 1,524,304 Current Secured: Revolving credits 175,160 272,386 71,000 99,750 Term loans 292,082 205,456 32,200 28,567 Bank overdrafts (Note 26) 18,214 19,612 18,214 19,612 Margin account 69,060 29,480 – – Less: Unamortised borrowing costs (9,880) (8,205) – (472) 544,636 518,729 121,414 147,457 Total borrowings Secured: Revolving credits 320,160 437,646 71,000 99,750 Term loans 2,039,824 1,935,368 233,800 346,277 Islamic Medium Term Notes (Note 32(a)) 1,500,000 1,207,000 1,500,000 1,207,000 Bank overdrafts (Note 26) 18,214 19,612 18,214 19,612 Margin account 69,060 29,480 – – Less: Unamortised borrowing costs (31,455) (32,335) – (878) 3,915,803 3,596,771 1,823,014 1,671,761 Unamortised borrowing costs: At 1 January 32,335 23,090 878 1,533 Incurred during the year 10,904 20,161 – – Amortisation for the year (Note 8) (11,784) (10,916) (878) (655) At 31 December 31,455 32,335 – 878 32. BORROWINGS (CONT’D.) Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Maturities of borrowings: Not later than 1 year 554,516 526,934 121,414 147,929 Later than 1 year and not later than 5 years 2,792,442 2,476,894 1,451,800 1,324,710 More than 5 years 600,300 625,278 249,800 200,000 Less: Unamortised borrowing costs (31,455) (32,335) – (878) Total 3,915,803 3,596,771 1,823,014 1,671,761 The range of interest rates per annum at the reporting date for borrowings were as follows: 2021 2020 % % Revolving credits 3.60 - 5.95 3.20 - 7.20 Term loans 3.75 - 6.33 3.75 - 6.12 Islamic Medium Term Notes 5.45 - 5.80 5.45 - 5.80 Bank overdrafts 4.90 - 5.20 6.71 - 6.96 Margin account 3.40 - 5.45 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 asset 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. FINANCIAL STATEMENTS NOTES TO THE For the financial year ended 31 December 2021 Annual Report 2021 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 318 319
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