NOTES TO THE FINANCIAL STATEMENTS
31 December 2014
(cont’d)
E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 4
83
18. TERM LOAN (SECURED) (cont’d)
The term loan of the Group and of the Company bears interest at BLR-2.40% based on the outstanding
amount of the term loan after setting off against the available balance in the current account of the
Group and of the Company maintained in the same financial institution where the term was drawndown.
Information on financial risks of term loan is disclosed in Note 33 to the financial statements.
19. HIRE PURCHASE AND FINANCE LEASE LIABILITIES
Group and Company
2014
2013
RM
RM
Minimum hire purchase and finance lease payments:
- not later than one (1) year
51,960
444,477
- later than one (1) year but not later than five (5) years
-
51,960
Total minimum hire purchase and finance lease payments
51,960
496,437
Less: Future interest charges
(598)
(9,474)
Present value of hire purchase and finance lease payments
51,362
486,963
Group and Company
2014
2013
RM
RM
Repayable as follows:
Current liabilities
- not later than one (1) year
51,362
435,601
Non-current liabilities
- later than one (1) year but not later than five (5) years
-
51,362
51,362
486,963
The hire purchase and finance lease liabilities of the Group and of the Company bear interest at 3% (2013:
3%) per annum.
Information on financial risks of hire purchase and finance lease liabilities is disclosed in Note 33 to the
financial statements.
