FGV Annual Report 2017

FELDA GLOBAL VENTURES HOLDINGS BERHAD FINANCIAL STATEMENTS 280 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 42 BORROWINGS (CONTINUED) Effective finance rates for borrowings are as follows: Group Company Finance rate Effective finance rate at date of statement of financial position per annum % Finance rate Effective finance rate at date of statement of financial position per annum % 2017 Islamic short term trade financing Fixed/Floating 0.78 - 3.96 - - Short term trade financing Fixed 3.09 - 7.12 - - Islamic term loans Floating 5.27 - 6.00 - - Term loans Floating 3.79 - 4.37 - - 2016 Islamic short term trade financing Fixed/Floating 0.60 - 4.20 Floating 3.96 - 4.20 Short term trade financing Fixed 3.09 - 4.23 - - Islamic term loans Floating 3.09 - 4.23 - - Term loans Floating 3.79 - 4.37 - - Finance lease liabilities Fixed 4.05 - 5.41 - - The secured term loans consists of the followings: (i) RM1,028,000 (2016: RM1,026,000) term loans repayable over periods ranging between six to seven years commencing from 2016 to 2017 up to 2019 to 2022 and is secured over certain leasehold lands of the Group. (ii) RM806,031,000 (2016: RM189,867,000) Islamic term loans is secured against a leasehold land, debenture and certain bank balances of the Group. The secured short term trade financing consists of the followings: (i) RM34,700,000 (2016: RM41,694,000) short termtrade financing is securedover certainproperty, plant andequipment, benefits of an insurance covering finished goods, and guaranteed by some of the directors and/or shareholders of certain subsidiary companies.