FGV Annual Report 2015

319 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING Notes to the Financial Statements For The Financial Year Ended 31 December 2015 ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 44 LOANS DUE TO A SIGNIFICANT SHAREHOLDER Group and Company 2015 2014 RM’000 RM’000 Unsecured: - Non-current 1,684,702 1,980,405 - Current 208,588 222,515 1,893,290 2,202,920 During the financial year, the Company had made an early settlement of loans due to a significant shareholder amounting to RM100,000,000 (2014: RM285,000,000). The loan is denominated as follows: Group and Company 2015 2014 RM’000 RM’000 - Ringgit Malaysia 1,893,290 2,202,920 Effective finance rate for the loan is as follows: Group and Company 2015 2014 Effective Effective finance rate finance rate at date of at date of statement statement of financial of financial Finance position Finance position rate per annum rate per annum % % Loans due to a significant shareholder Fixed 4.911 Fixed 4.805 The carrying amounts and fair value of the non-current and current loans due to a significant shareholder are as follows: Group and Company Carrying amount Fair value 2015 2014 2015 2014 RM’000 RM’000 RM’000 RM’000 Loans due to a significant shareholder 1,893,290 2,202,920 1,916,044 2,210,231 The fair value of loans due to a significant shareholder is based on cash flows discounted using a rate based on the borrowing rate of 4.60% (2014: 4.72%). The fair value of the loans due to a significant shareholder is a Level 2 computation.