ACCOUNTABILITY | FINANCIAL STATEMENTS 283 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 32. LOANS AND BORROWINGS (CONTINUED) (a) The secured loans and borrowings of the Group and of the Company are secured by certain assets of the Group as disclosed in Note 16 and Note 26 and certain of the Group’s vessels under finance lease arrangements. (b) Certain term loans of RM3,512 million (2023: RM3,213 million) are guaranteed by both the Company and an external party. Other loans and borrowings of RM1,568 million (2023: RM2,162 million) are fully guaranteed by the Company. (c) The revolving credits at floating interest rates bear interest ranging from 4.95% to 8.50% (2023: 2.25% to 7.32%) per annum. (d) The term loans at floating interest rates denominated in USD bear interest at range of 3.89% to 10.17% (2023: 2.73% to 9.45%) per annum. (e) Except for term loans at floating interest rate denominated in INR of RM512 million (2023: RM325 million) which bears interest of 7.70% to 9.15% (2023: 7.40% to 8.70%) per annum, other INR term loans of RM280 million (2023: RM137 million) bears interest of 8.25% (2023: 8.25%) per annum where interest rate is reset automatically and every five years. (f) The trade facilities at floating interest rates pertained to supplier financing drawn in January 2023, which were denominated in Indian Rupee (“INR”) and bore interest of 8.70% per annum. (g) The fair value of the fixed rate loans is determined based on discounted cash flows using a discount rate that reflects a current borrowing rate. They are classified as Level 3 fair values in the fair value hierarchy (refer to the Note 39) due to the use of unobservable inputs. 2024 2023 Carrying Amount RM million Fair value RM million Carrying Amount RM million Fair value RM million Group Term loans 3,303 3,391 1,004 870 Company Term loans 1,005 898 1,004 870
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