TANJUNG OFFSHORE BERHAD

TANJUNG OFFSHORE BERHAD (662315-U)
ANNUAL REPORT 2009
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2009
20. LONG TERM BORROWINGS (continued)
Note vi - IMTN (continued)
The IMTN is secured by:
i) Charge and assignment over the designated accounts;
ii) Assignment of rights, title and interest in all the construction contracts of the new vessels which are to be commissioned
for construction from the proceeds of the IMTN;
iii) Assignment of residual rights (if any) pursuant to the construction contracts after the completion of the new vessels;
iv) Assignment of all insurances and charter contracts in respect of the new vessels; and
v) Charge over the new vessels.
On 16 June 2009, the Company obtained the consent from its bondholders to reduce the existing IMTN Programme from
RM400.0 million to RM200.0 million.
Note vii - Ijarah (IJA 1)
The purpose of this term loan is to fi nance the construction cost of one new unit of 60-M Anchor Handling Tug Supply Vessel
or known as MV Tanjung Biru 1. The loan is repayable by 96 monthly installments with the profi t rate of 3.70% per annum.
Note viii - Ijarah (IJA 2)
The purpose of this term loan is to fi nance the construction cost of one new unit of 60-M Anchor Handling Tug Supply Vessel
or known as MV Tanjung Biru 2. The loan is repayable by 96 monthly installments with the profi t rate of 3.70% per annum.
Note ix - Ijarah (IJA 3)
The purpose of this term loan is to fi nance the construction cost of one new unit of 60-M Anchor Handling Tug Supply Vessel or
known as MV Tanjung Dahan 1. The loan is repayable by 108 monthly installments with the profi t rate of 3.70% per annum.
Note x - Ijarah (IJA 4)
The purpose of this term loan is to fi nance eighty two percent of the construction cost of one new unit of 60-M Anchor Handling
Tug Supply Vessel or known as MV Tanjung Dahan 2. The loan is repayable by 108 monthly installments with the profi t rate of
36.70% per annum.
All the facilities mentioned in Note vii to x are secured by the respective vessels under fi nancing, corporate guarantees of the
Company, assignment of shipbuilding contracts and future earnings of the respective vessels.
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