2018 UEM Edgenta Annual Report

29. BORROWINGS (CONT’D.) Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Total borrowings Secured: Murabahah Term Facility (Note a) 101,065 129,094 – – Term loans (Note b) 126,458 124,736 – – Finance leases (Note 30) 3,127 4,240 – – 230,650 258,070 – – Unsecured: Islamic Commercial Papers (Note c) 49,964 49,964 49,964 49,964 Islamic Medium Term Notes (Note c) 251,851 251,727 251,851 251,727 Total borrowings 532,465 559,761 301,815 301,691 The maturity profile of the loans and borrowings are as follows: Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 On demand or within one year 124,460 117,222 52,190 52,190 More than 1 year and less than 2 years 41,689 41,012 – – More than 2 years and less than 5 years 318,785 348,474 249,625 249,501 More than 5 years 47,531 53,053 – – 408,005 442,539 249,625 249,501 532,465 559,761 301,815 301,691 (a) Murabahah Term Facility On 1 December 2016, the Company and its subsidiary, Edgenta Singapore obtained Murabahah Term Facility of RM415.2 million (SGD134.6 million)(“Facility A”) and RM160.7 million (SGD52.4 million)(“Facility B”) to finance the acquisition of AIFS. The profits charged on the borrowing are repayable on quarterly basis, while the principals are repayable on annual basis, for the period of 3 years for Facility A and 5 years for Facility B, from the date of the first drawdown on 15 December 2016. The weighted average effective profit rate of facility at the reporting date was Nil (2017: Nil) per annum for Facility A and 3.99% (2017: 3.61%) per annum for Facility B. The Facilities A and B are secured by: (i) Equitable mortgage over all securities and shares of Edgenta Singapore and its subsidiaries; (ii) Debenture creating registered fixed and floating charges over all present and future assets of Edgenta Singapore and its subsidiaries; (iii) Charge over the Designated Accounts of the Company; (iv) Assignment of AIFS’s rights, title, interest and benefits under the Sales and Purchase Agreement dated 26 September 2016 (“SPA”); Financial Review Stakeholder Information AGM Information 221 Governance Review of Sustainability Activities