Annual Report (Complete) - MYCRON Steel Berhad
Annual Report (Complete) - MYCRON Steel Berhad
Annual Report (Complete) - MYCRON Steel Berhad
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Notes to the Financial Statements 30 June 2010<br />
(continued)<br />
26. BORROWINGS<br />
Group<br />
Company<br />
2010<br />
RM<br />
2009<br />
RM<br />
2010<br />
RM<br />
2009<br />
RM<br />
Current<br />
Bankers’ acceptances<br />
Revolving credits<br />
Term loan 1<br />
Term loan 2<br />
87,500,000<br />
35,098,163<br />
6,188,468<br />
13,770,973<br />
44,850,000<br />
35,042,575<br />
7,732,088<br />
13,195,073<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
142,557,604<br />
100,819,736<br />
-<br />
-<br />
Non-current<br />
Term loan 1<br />
Term loan 2<br />
20,677,482<br />
33,652,469<br />
28,593,971<br />
54,351,160<br />
-<br />
-<br />
-<br />
-<br />
54,329,951<br />
82,945,131<br />
-<br />
-<br />
Total<br />
196,887,555<br />
183,764,867<br />
-<br />
-<br />
Contractual terms of borrowings<br />
Contractual<br />
interest rate<br />
at balance<br />
sheet date<br />
(per annum)<br />
Functional<br />
currency/<br />
currency<br />
exposure<br />
Total<br />
carrying<br />
amount<br />
RM<br />
< 1 year<br />
RM<br />
Maturity Profile<br />
1-2 years 2-3 years 3-4 years<br />
RM RM RM<br />
4-5 years<br />
RM<br />
Group<br />
At 30 June 2010<br />
Secured<br />
Bankers’ acceptances<br />
Revolving credits<br />
Term loan 1<br />
Term loan 2<br />
3.60%- 3.95%<br />
2.62%- 3.30%<br />
4.81%<br />
SIBOR + 2.50%<br />
RM/RM<br />
RM/RM<br />
RM/EURO<br />
RM/USD<br />
87,500,000<br />
35,098,164<br />
26,865,949<br />
47,423,442<br />
87,500,000<br />
35,098,164<br />
6,188,468<br />
13,770,973<br />
-<br />
-<br />
5,907,852<br />
26,194,162<br />
-<br />
-<br />
5,907,852<br />
7,458,307<br />
-<br />
-<br />
5,907,852<br />
-<br />
-<br />
-<br />
2,953,925<br />
-<br />
196,887,555 142,557,605<br />
32,102,014<br />
13,366,159<br />
5,907,852<br />
2,953,925<br />
Group<br />
At 30 June 2009<br />
Secured<br />
Bankers’ acceptances<br />
Revolving credits<br />
Term loan 1<br />
Term loan 2<br />
3.60%- 3.95%<br />
2.62%- 3.30%<br />
4.81%<br />
SIBOR + 2.50%<br />
RM/RM<br />
RM/RM<br />
RM/EURO<br />
RM/USD<br />
44,850,000<br />
35,042,575<br />
36,326,060<br />
67,546,232<br />
44,850,000<br />
35,042,575<br />
7,732,088<br />
13,195,073<br />
-<br />
-<br />
7,362,170<br />
14,821,800<br />
-<br />
-<br />
7,362,170<br />
14,821,800<br />
-<br />
-<br />
7,362,170<br />
24,707,559<br />
-<br />
-<br />
6,507,462<br />
-<br />
183,764,867 100,819,736<br />
22,183,970<br />
22,183,970<br />
32,069,729<br />
6,507,462<br />
Term Loan 1 is secured by way of specific charge over the property, plant and equipment acquired under the expansion project<br />
financed through the facility (refer Note 13).<br />
Term Loan 2, bankers’ acceptances and revolving credit is secured by a debenture creating a charge over the fixed and floating<br />
assets of a subsidiary excluding those under specific charge in respect of Term Loan 1, ranking pari passu with the charge created<br />
in respect of Term Loan 2, bankers’ acceptance and revolving credit (refer Note 13).<br />
pg 76 | Mycron <strong>Steel</strong> <strong>Berhad</strong>