notes - Mauritius Housing MHC

NOTES
financial
to the
STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2002
Prior year adjustment
At 30 June 2002, the Company has carried out a recomputation exercise with regard to interest payable on PEL Deposits
Accounts. This exercise has revealed interest of RS 50,650,000 as being under provided in respect of prior years. Hence, the
opening revenue reserves have been restated to reflect this under provision of interest payable on PEL Deposits Accounts.
17. BORROWINGS
2002 2001
Rs’000
Rs’000
Current
Bank overdrafts(secured) 102,655 63,535
Debentures (see note (a) below) 92,786 92,786
Short term loans (see note (b) below) 161,712 168,273
357,153 324,594
Non-current
Debentures (see note (a) below) 770,713 863,499
Loan capital (see note (b) below) 2,173,023 2,083,101
Loan - Government of Mauritius (see note (c) below) 56,431 56,431
ANNUAL REPORT 2001 - 2002
3,000,167 3,003,031
Total borrowings 3,357,320 3,327,625
2002 2001
Rs’000
Rs’000
(A) DEBENTURES
9% MHC, 29 November 2003 - BOM 300,000 300,000
9.98% MHC, 06 April 2008 - SBM 135,000 157,500
9.75% MHC, 12 May 2005 - SICOM 21,428 28,571
10% MHC, 12 May 2008 - SICOM 30,000 35,000
8.5% MHC, 04 June 2008 - IOIB 51,000 59,500
9.75% MHC, 6 September 2005 - SICOM 28,571 35,714
10% MHC, 6 September 2008- SICOM 35,000 40,000
9.65% MHC 4 October 2008 - SBM 87,500 100,000
9.65% MHC 11 October 2008 - SBM 175,000 200,000
863,499 956,285
Less: Repayable within one year shown as short term loan (92,786) (92,786)
770,713 863,499
The above debentures are guaranteed by the Government of Mauritius.
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