32. BORROWINGS (CONT’D.) Fair value of all unexpired corporate guarantees given to bank for credit facilities granted to subsidiaries, joint ventures and associate was assessed to be RM nil (2021: RM nil) at the inception of issuance of the guarantees due to the likelihood of the guaranteed party defaulting is nil within the guaranteed period. As at reporting date, the Group has the following undrawn banking facilities: Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Banking facilities obtained by: - Company 60,260 42,286 60,260 42,286 - Subsidiaries 391,029 290,670 – – - Joint ventures 7,847 48,397 – – - Associate 79,762 179,762 – – (a) Islamic Medium Term Notes O n 22 April 2020, the Company had lodged the proposed establishment of a rated Islamic Medium Term Notes Programme of up to RM1.5 billion in nominal value based on the Shariah principles of Wakalah Bi Al-Istithmar and Murabahah (via Tawarruq arrangement) (“Sukuk Wakalah Programme”) with the Securities Commission Malaysia (“SC”) pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework (issued by the SC on 9 March 2015 and revised on 26 November 2019, as amended from time to time). T he Sukuk Wakalah Programme allows for the issuance of rated and senior ranking sukuk (“Sukuk Wakalah”) from time to time, with flexibility for the Company to issue secured and/or unsecured Sukuk Wakalah subject to the aggregate outstanding nominal amount of the Sukuk Wakalah not exceeding RM1.5 billion at any point in time. The Company had issued the Sukuk Wakalah as follows: Yield-to- Amount maturity Tranche No Date of issuance RM’000 (per annum) Tenure year 1 14 May 2020 200,000 5.80% 7 2 30 June 2020 465,500 5.50% 3 2 30 June 2020 123,500 5.65% 5 3 3 September 2020 100,000 5.65% 5 4 8 October 2020 179,000 5.45% 3 4 8 October 2020 139,000 5.65% 5 5 15 April 2021 133,200 5.65% 5 5 15 April 2021 49,800 5.80% 7 6 8 June 2021 110,000 5.45% 3 1,500,000 257 FINANCIAL STATEMENTS & OTHER INFORMATION
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