ENRICHING LIVES EXPANDING HORIZONS - Maxis

MAXIS BERHAD
ANNUAL REPORT 2011
173
32 BORROWINGS (CONTINUED)
(a) Finance lease liabilities (continued)
The weighted average effective interest rate of the Group’s finance lease liabilities is 15.44% (2010: 14.37%) per annum.
The finance lease liabilities are effectively secured as:
(i)
the rights to the leased motor vehicles revert to the lessor in the event of defaults; and
(ii) the title to the office equipment remain with the lessor until payment of the termination and/or exit charges.
Finance lease liabilities represent outstanding obligations payable in respect of office equipment and motor vehicles
acquired under finance lease commitment and are analysed as follows:
GROUP
2011 2010
RM’000
RM’000
Not later than one year 18,377 17,548
Later than one year and not later than five years 24,967 23,102
43,344 40,650
Less: Future finance charges (7,791) (10,429)
Present value 35,553 30,221
Representing lease liabilities:
- Current 13,846 13,201
- Non-current 21,707 17,020
(b) Non-current and current unsecured term loans
35,553 30,221
(i)
RM2,450,000,000 term loan
In 2010, the Company drew down a term loan facility of RM2,450,000,000 which has a tenure of two years from the
draw down date and is repayable in one lump sum at the end of the tenure. During the financial year, the Company has
partly refinanced the term loan facility of RM1,000,000,000 with a new term loan facility of the same amount.
(ii) RM1,000,000,000 term loan
The new term loan facility of RM1,000,000,000 described in (i) above has a tenure of 11 years from the first draw down
date, 27 December 2011, and is repayable in one lump sum at the end of the tenure.