Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

30. CMS Income Securities (contd.)
Notes to the Financial Statements
For the fi nancial year ended 31 December 2011
(a) The salient terms of the Bonds are as follows:
(i) The Bonds are issued in series and each series is redeemable from the second to the seventh
anniversary from the date of issue:
Total nominal
sum available Tenor
Serial for subscription (years)
RM’000
A 29,970 2
B 49,950 3
C 69,930 4
D 79,920 5
E 84,915 6
F 84,915 7
399,600
(ii) The Bonds comprise a principal element (“Bonds Principal”) and a coupon element (“Bonds
Coupon”);
(iii) The Bonds Coupon shall be at the nominal rate of 0.01% per annum unless dividends are not
paid on the NCRPS, in which case the Bonds Coupon shall range from 6.67% to 18.80% per
annum, to be paid semi-annually;
(iv) Unless previously redeemed or purchased and cancelled, the Bonds Principal shall be redeemed
by the Company at par on maturity;
(v) A Debt Repayment Reserve Account (“DPRA”) is maintained by the Company and charged
(pledged) to the Trustee for the benefi t of the Bondholders. 60% of all future cash proceeds,
if any, arising from the sale and/or the listing of equity interests in certain subsidiaries of the
Company will be deposited in the DPRA. The Company shall be permitted to utilise the funds
held in the DPRA to invest in Permitted Investments (as defi ned in the Trust Deed) pending
utilisation of the funds and to utilise any income earned to service the debt payment due under
the CMS Income Securities;
(vi) The Bonds are not listed on any boards of Bursa Malaysia Securities Berhad (“Bursa Securities”)
but the Bonds Principal are tradeable and transferable under the Real Time Electronic Transfer
of Funds and Securities System (RENTAS) maintained by BNM; and
(vii) The Bonds bear a rating of A2 by Rating Agency Malaysia Berhad (RAM) at the date of issue.
Annual Report 2011 141