FGV Annual Report 2015

318 Notes to the Financial Statements For The Financial Year Ended 31 December 2015 Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 43 BORROWINGS (CONTINUED) The secured term loans consists of the followings: (i) RM253,049,000 (2014: 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) RM165,601,000 (2014: 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. The secured short term trade financing consists of the followings: (i) RM258,750,000 (2014: RM Nil) short term trade financing is secured over fixed deposits amounting to RM494,496,000 where the remaining balance of the borrowing amounting of RM191,250,000 was drawdown in January 2016. (ii) RM161,276,000 (2014: RM254,665,000) short term trade financing 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. The carrying amounts and fair value of the total borrowings are as follows: Group Carrying amount Fair value 2015 2014 2015 2014 RM’000 RM’000 RM’000 RM’000 Short term trade financing 3,115,304 2,041,255 3,115,304 2,041,255 Term loans 431,972 453,680 413,855 433,173 Finance lease liabilities 3,143 5,071 3,143 5,071 Total 3,550,419 2,500,006 3,532,302 2,479,499