Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

140
Notes to the Financial Statements
For the fi nancial year ended 31 December 2011
29. Loans and borrowings (contd.)
The remaining maturities of the loans and borrowings as at 31 December 2011 are as follows:
Cahya Mata Sarawak Berhad
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Maturity period of borrowings:
Repayable within one year 148,444 219,900 85,507 85,544
One year to fi ve years 66,476 173,308 - 85,242
Over fi ve years 827 1,378 - -
215,747 394,586 85,507 170,786
(i) The revolving credits of a subsidiary are secured by legal charges over landed properties of the
subsidiary (Note 15).
(ii) The interest rates of the Group are as follows:
2011 2010
% %
Bank overdrafts 7.60 7.05
Bankers’ acceptances 3.09 to 4.30 3.05 to 4.48
Revolving credits 4.73 3.81 to 7.05
Term loan 5.10 4.70
(iii) The shareholders’ loan is charged interest at 5% (2010: 5%) per annum and is repayable from June
2010 to June 2018.
30. CMS Income Securities
On 29 December 2005, pursuant to a Trust Deed dated 16 December 2005, the Company undertook to issue
RM400 million CMS Income Securities (“CMSIS”) to refi nance existing group borrowings and for working
capital requirements.
The CMSIS consist of the following:
(i) 400 fi xed rate coupon-bearing serial bonds (“Bonds”) at a nominal sum of RM999,000 each. The
Bonds comprise the bond principal and the bond coupon; and
(ii) 400 Non-Convertible Redeemable Preference Shares (“NCRPS”) of RM1 each at an issue price of
RM1,000 each (Note 31).
The NCRPS are effectively stapled to the Bonds in that the NCRPS and the Bonds are issued simultaneously
to the same party and the coupon payment obligations under the Bonds are dependent on the payments
made under the NCRPS.