FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 290 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 35 LOANS DUE FROM SUBSIDIARIES Company 2018 RM’000 2017 RM’000 At 1 January 3,664 206,013 Addition 249,464 - Repayment (246,129) (202,349) At 31 December 6,999 3,664 The loans are denominated as follows: - Ringgit Malaysia 5,937 2,602 - Great Britain Pound 1,062 1,062 6,999 3,664 Financing terms of short term loans due from subsidiaries are between 30 to 365 days (31.12.2017: 30 to 180 days; 1.1.2017: 30 to 180 days) with interest ranging from 0.38 % to 3.64 % per annum (31.12.2017: 0.15% to 4.50% per annum; 1.1.2017: 0.80% to 4.73% per annum). No loss allowances were recorded as at 31 December 2018 due to most of the balances have yet to exceed the credit period. Past due but not impaired In the previous financial year, the short term loans due from subsidiaries were neither past due nor impaired as they had yet to exceed the credit period. Impaired and provided for In the previous financial year, the short term loans due from subsidiaries were neither impaired nor provided for. The credit quality of the short term loans due from subsidiaries that are neither past due nor impaired can be assessed to historical information about counterparty default rates: Company 2018 RM’000 2017 RM’000 Group 2 6,999 3,664