200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 23. Sukuk Murabahah Movement in loans and borrowings were as follows: 2022 2021 2022 2021 RM RM RM RM At 1 January 307,062,519 407,107,416 78,000,000 - Drawdown: - hire purchase payables 6,680,674 1,597,204 - - - loans and borrowings 309,077,579 641,765,586 5,900,000 78,000,000 Repayments: - hire purchase payables (16,359,991) (23,878,835) - - - loans and borrowings (298,751,179) (716,892,811) (3,000,000) - Net changes in bank overdrafts - (2,680,028) - - Unrealised foreign exchange (gain)/loss (71,196) 43,987 - - At 31 December 307,638,406 307,062,519 80,900,000 78,000,000 Group Company 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. Sukuk Murabahah bears interest ranging from 4.00% to 5.06% (2021: 4.00% to 5.06%) per annum. Loans and borrowings (cont'd) - 82 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Kimlun Corporation Berhad | Registration No. 200901023978 (867077-X) 147
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