300 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 44. Perpetual securities (continued) (iii) By the Company (a) RM360 million Perpetual Sukuk Wakalah The Company issued Perpetual Sukuk Wakalah of RM250 million and RM110 million pursuant to its Subordinated Perpetual Islamic Notes Programme of up to RM1.0 billion in nominal value on 2 November 2022 and 5 December 2022 respectively. The perpetual securities are: • direct, unsecured, unconditional and subordinated obligations of the Company; and • rank at least pari passu with all other present and future unconditional, subordinated and unsecured obligations of the Company at all times, save for such obligations as may be preferred by provisions of law that are both mandatory and of general application The perpetual securities are unrated and are not listed on Bursa Malaysia Securities Berhad or on any other stock exchange, bearing no fixed maturity date but are callable 5 years from the date of issuance (”First Call Date”) falling due on 2 November 2027 and 6 December 2027 respectively. The issued instrument carries a periodic distribution rate of 7.5% per annum, distributable semi-annually calculated at the nominal value of securities issued. The distribution rate will be subject to an agreed one time step-up margin of 1% per annum after First Call Date. Pursuant to the terms and conditions of the program, the Company has no obligation to pay any distribution and has the option to elect for distribution deferment at its sole discretion, which does not constitute a breach of covenant. The perpetual securities may also be redeemed at the option of the Company upon the occurrence of certain events by the Company in accordance with the terms and conditions of the perpetual securities. From both the Company’s and Group’s perspective under MFRS 132 “Financial Instruments: Presentation”, the perpetual securities is classified as equity because the payment of any distribution or redemption is at the discretion of the Group. 45. Summary of effects of acquisition and re-organisation of companies 2023 Group During the financial year, the Group had completed the internal re-organisation for the following companies of which there were no consequential financial effects to the Group: (i) On 22 February 2022, YR Brazil Pte. Ltd. (“YR(BRZ)PL”), an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in EOL Vicosa V Ltda., EOL Vicosa VI Ltda., EOL Vicosa VII Ltda. and EOL Vicosa VIII Ltda. for total consideration of BRL28,500,000. (ii) On 23 February 2022, YR(BRZ)PL completed the acquisition of 100% equity interest in Santa Clara Energia Renovável Ltda for a consideration of BRL30,240,000. (iii) On 31 March 2022, YR India Pte. Ltd. (“YRIPL”), an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in YR Bhadla Pte. Ltd. (“YRBPL”) from Yinson Renewables (HK) Limited, an indirect wholly owned subsidiary of the Company for a consideration of USD1,754,500. YRBPL remains as an indirect wholly owned subsidiary of the Company. (iv) On 8 September 2022, YR Indonesia C&I Pte. Ltd. (“YRICIPL”), an indirect wholly owned subsidiary of the Company, completed the acquisition of 80% equity interest in PT Ineco Solar Solutions for a consideration of IDR9,006,358,994 (equivalent to RM2.7 million).
RkJQdWJsaXNoZXIy NDgzMzc=