200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 22. Sukuk Murabahah Movement in loans and borrowings were as follows: 2023 2022 2023 2022 RM RM RM RM At 1 January 307,638,406 307,062,519 80,900,000 78,000,000 Drawdown: - hire purchase payables 21,565,572 6,680,674 - - - loans and borrowings 417,537,432 309,077,579 12,860,000 5,900,000 Repayments: - hire purchase payables (10,781,582) (16,359,991) - - - loans and borrowings (322,747,607) (298,751,179) (5,900,000) (3,000,000) Unrealised foreign exchange loss/(gain) 161,769 (71,196) - - At 31 December 413,373,990 307,638,406 87,860,000 80,900,000 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 4.49% to 5.06% (2022: 4.00% to 5.06%) per annum. Loans and borrowings (cont'd) - 63 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 133 Annual Report 2023
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