FGV Annual Report 2014

43 Borrowings (continued) The carrying amounts and fair value of the total borrowings are as follows: Group Carrying amount Fair value 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 Short term trade financing 2,040,752 1,636,878 2,040,752 1,636,878 Term loans 454,183 13,032 433,676 13,032 Finance lease liabilities 5,071 – 5,071 – Total 2,500,006 1,649,910 2,479,499 1,649,910 The fair value of total borrowings equals their carrying amount, as the impact of discounting is not significant for borrowings other than certain term loans, which have fixed finance rate. 44 Loans due to a Significant Shareholder Group and Company 2014 2013 RM’000 RM’000 Unsecured: – Non-current 1,980,405 2,473,828 – Current 222,515 223,962 2,202,920 2,697,790 During the financial year, the Company had made an early settlement of loans due to a significant shareholder amounting to RM285,000,000. The loan is denominated as follows: – Ringgit Malaysia 2,202,920 2,697,790 Felda Global Ventures Holdings Berhad pg 298 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2014