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
The CMSIS are classifi ed as debt instruments and hence are reported as liabilities.
Group/Company
2011 2010
RM’000 RM’000
The CMSIS are accounted for in the statements of fi nancial position as follows:
Proceeds from issue of CMSIS 442,403 442,403
Less: Unamortised transaction costs (265 ) (530 )
442,138 441,873
Interest expense recognised in statements of comprehensive income:
At 1 January 110,469 92,092
Recognised during the year (Note 7) 12,456 18,377
At 31 December 122,925 110,469
Interest expense on the NCRPS paid:
At 1 January (151,556 ) (131,556 )
Paid during the year (13,000 ) (20,000 )
At 31 December (164,556 ) (151,556 )
Bonds principal repayment and NCRPS redemption:
At 1 January (230,000 ) (150,000 )
Paid during the year (85,000 ) (80,000 )
At 31 December (315,000 ) (230,000 )
Amount included in loans and borrowings (Note 29) 85,507 170,786
The effective interest rate on the CMSIS is 7.27% (2010: 7.27%) per annum.
The CMSIS are repayable over the following periods:
Not later than 1 year 85,772 85,544
Later than 1 year and not later than 2 years - 85,772
85,772 171,316
Less: Unamortised transaction costs (265 ) (530 )
85,507 170,786
Annual Report 2011 143