cover rationale - ChartNexus

27 SHORT TERM BORROWINGS (CONTINUED)
The short term borrowings of the Group carry interest at rates ranging from 3.50% to
11.25% (2001: 3.60% to 11.50%) per annum during the financial year.
The secured short term borrowings of the Group are secured by legal charges over certain
assets of the subsidiaries (Note 10a).
The secured short term borrowings of the Company are secured by:
- Standby Letter of Credits from various licensed banks.
- A charge-in-escrow over shares of The New Straits Times Press (Malaysia) Berhad, Sistem
Televisyen Malaysia Berhad and Rashid Hussain Berhad and is subject to a minimum
security cover of 1.5 times.
- Charge over properties of certain subsidiaries.
28 BONDS
Group
2002 2001
RM'000 RM'000
Al-Bai Bithaman Ajil Bonds (nominal value) 920,000 920,000
Less: Bonds issuance expenses (10,125) (10,125)
Net proceeds 909,875 909,875
Cumulation of amortisation of Bonds issuance expenses 1,435 464
911,310 910,339
Representing Bonds:
Due within 12 months 120,000 -
Due after 12 months 791,310 910,339
911,310 910,339
Analysis of the Bonds:
Payable within one year 120,000 -
Payable between one and two years - 120,000
Payable between two and five years 280,000 80,000
Payable after five years 520,000 720,000
920,000 920,000
Laporan Tahunan 2002 Annual Report
NOTES TO THE FINANCIAL STATEMENTS 31 AUGUST 2002 (CONTINUED)
129