Directors - Boustead Holdings Berhad

30. LONG TERM BORROWINGS
Group Company
2006 2005 2006 2005
RM’000 RM’000 RM’000 RM’000
Term loans 586,393 499,420 60,000 80,000
Islamic bonds 100,000 160,000 –– ––
Redeemable convertible bonds 75,294 75,294 –– ––
Medium term notes –– 40,000 –– ––
Bank guaranteed serial bonds 250,000 250,000 250,000 250,000
Bank guaranteed redeemable convertible bonds 100,000 100,000 100,000 100,000
1,111,687 1,124,714 410,000 430,000
Less: repayable in 1 year (Note 33) (438,912) (250,383) (20,000) (20,000)
672,775 874,331 390,000 410,000
Analysis by maturity:
– within 1 year 438,912 250,383 20,000 20,000
– from 1 year to 2 years 211,787 399,704 70,000 90,000
– from 2 years to 5 years 460,988 374,627 320,000 220,000
– more than 5 years –– 100,000 –– 100,000
1,111,687 1,124,714 410,000 430,000
The Islamic bonds (IBs) and redeemable convertible bonds (RCBs) which were issued by a Subsidiary,
Boustead Properties Berhad (BProp) carry a weighted average interest rate of 8.7% (2005: 8.2%) per
annum. Progress billings from sales of the Mutiara Damansara and Mutiara Rini projects are assigned to
Escrow Accounts, Profit Service Account and Principal Service Reserve Account for the repayment of the
principal and interest of the IBs and RCBs.
The bank guaranteed serial bonds (Serial Bonds) and the bank guaranteed redeemable convertible bonds
(BGRCB) are unsecured and bear interest at a weighted average rate of 7.7% per annum. All the other
borrowings are also unsecured and bear interest at a weighted average rate of 5.6% (2005: 5.5%) per
annum. Except for a loan of RM45 million which is denominated in US Dollars, all borrowings are
denominated in Ringgit Malaysia.
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