200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 23. The Loans and borrowings (cont'd) Sukuk Murabahah Sukuk Murabahah bears interest ranging from 4.00% to 5.06% per annum. Movement in loans and borrowings were as follows: 2021 2020 2021 2020 RM RM RM RM At 1 January 407,107,416 406,608,807 - - Drawdown: - hire purchase payables 1,597,204 6,532,255 - - - loans and borrowings 641,765,586 575,800,217 78,000,000 - Refinancing: - hire purchase payables - 2,293,005 - - Repayments: - hire purchase payables (23,878,835) (25,769,898) - - - loans and borrowings (716,892,811) (536,986,077) - - Net changes in bank overdrafts (2,680,028) (21,398,102) - - Unrealised foreign exchange loss 43,987 27,209 - - At 31 December 307,062,519 407,107,416 78,000,000 - During the financial year, the Company had established an Islamic Commercial Papers (“ICP”) and Islamic Medium Term Note (“IMTN”) programme with a combined limit of RM800 million in nominal value based on the Shariah principle of Murabahah (via Tawarruq Arrangement) (collectively, the ICP and the IMTN shall be referred to as “Sukuk Murabahah”). The tenure of the ICP Programme is 7 years commencing from 22 December 2021, while the tenure of the IMTN Programme is perpetual. Group Company - 81 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 K imlun Corporat ion Berhad Regi s t rat ion No. 200901023978 (867077-X) 141
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