FGV Annual Report 2014

43 Borrowings (continued) Group 2014 2013 RM’000 RM’000 The borrowings are denominated as follows: – Ringgit Malaysia 1,826,100 1,485,738 – United States Dollar 359,260 22,929 – Canadian Dollar 205,509 99,246 – Indonesia Rupiah – 24,499 – Thai Baht 13,385 17,498 – Great Britain Pound 45,197 – – Singapore Dollar 2,699 – – Pakistan Rupee 47,856 – 2,500,006 1,649,910 Effective finance rates for borrowings are as follows: Finance Effective finance rate at date of statement of financial position rate % per annum 2014 Short term trade financing Fixed 2.26 – 6.60 Term loans Fixed/floating 4.18 – 4.53 Finance lease liabilities Fixed 4.68 – 7.95 2013 Short term trade financing Fixed 2.40 – 6.60 Term loans Floating 6.00 The term loans include the followings: (i) RM251,964,000 Medium Term Notes (MTN) Programme’s tenure is up to ten years from the date of issuance and repayment is to commence five years from the date of first issue. The MTN Programme is secured over leasehold land, fixed and floating charges over certain assets of the Group and a corporate guarantee provided by a subsidiary. (ii) RM182,230,000 term loans repayable over periods ranging between six to seven years commencing from 2014 to 2017 up to 2019 to 2022 and is secured over certain leasehold lands of the Group. (iii) RM14,988,000 term loans that is unsecured and repayable by 120 monthly instalments of RM138,775 commencing from January 2014. (iv) RM4,498,000 loan that is unsecured and payable semi-annually with a maturity date of August 2015. Short term trade financing of RM254,665,000 (2013: RM17,498,000) is secured over certain property, plant and equipment, benefits of an insurance covering finished goods, and guaranteed by some of the directors and/or shareholders of certain subsidiary companies. Introduction Performance Highlights About FGV Reports Financial Statements Others Strategy and Value Creation Performance Review & Progress Foreword to Shareholders Annual General Meeting Annual Report 2014 pg 297