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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
38. Financial risk management objectives and policies (cont’d)
154
(a) Interest rate risk (cont’d)
Range of
interest
rates Within 1 - 2 2 - 3 3 - 4 4 - 5
% per 1 year years years years years Total
Company Note annum RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
31 December 2010
Fixed rate
Amount due from a
jointly controlled
entity 24 4.00 – – – 2,607 – 2,607
Amount due from
subsidiaries 3.00 - 4.00 94,239 – – – – 94,239
Floating rate
Cash and bank
balances 26 0.58 - 2.95 16,697 – – – – 16,697
Short term trade
financing 28 1.25 - 1.58 40,321 – – – – 40,321
Bankers’ acceptances 28 3.27 - 3.74 508,109 – – – – 508,109
Revolving credits 28 1.90 12,362 15,453 15,453 7,725 – 50,993
Term loans 28 1.90 - 4.65 9,181 4,357 – – – 13,538
The Group and the Company have an Interest Rate Swap Contract with a bank to swap the interest payments from a
floating rate borrowing to fixed rate in US Dollar as at 31 December are as follows:
2011
Notional Amount (USD Million) : 12.5
Maturity Period : March 2014
Receive Floating Interest Rate : 3 months London Inter-bank Offer Rate
Pay Fixed Interest Rate : 2.47%
2010
Notional Amount (USD Million) : 16.5
Maturity Period : March 2014
Receive Floating Interest Rate : 3 months London Inter-bank Offer Rate
Pay Fixed Interest Rate : 2.47%
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