MISC Annual Report 2019

19. OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (CONT’D.) (c) Interest-bearing loans and borrowings (cont’d.) More than More than More than More than 1 year 2 years 3 years 4 years Within and within and within and within and within More than 1 year 2 years 3 years 4 years 5 years 5 years Total At 31 December 2018 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Group Fixed rate Term loans 295,619 296,796 223,840 265,822 109,450 673,844 1,865,371 Floating rate Term loans 4,719,458 642,639 817,536 707,672 150,688 1,196,351 8,234,344 Revolving credits 763,416 2,186,775 – – – – 2,950,191 5,482,874 2,829,414 817,536 707,672 150,688 1,196,351 11,184,535 Total borrowings 5,778,493 3,126,210 1,041,376 973,494 260,138 1,870,195 13,049,906 Corporation Fixed rate Loans from subsidiaries 158,395 158,395 79,197 – – – 395,987 Floating rate Revolving credits 763,416 – – – – – 763,416 Loans from subsidiaries 1,126,819 3,820,744 190,404 – – – 5,137,967 1,890,235 3,820,744 190,404 – – – 5,901,383 Total borrowings 2,048,630 3,979,139 269,601 – – – 6,297,370 19. OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (CONT’D.) (d) Finance lease receivables Finance lease receivables represent lease rental and interest receivable due from customers in relation to the lease of ships and offshore floating assets by the Group and the Corporation. Group Corporation 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Minimum lease receivables: Not later than 1 year 2,333,665 2,299,800 149,291 150,518 Later than 1 year and not later than 5 years 8,376,451 8,648,728 595,943 602,484 Later than 5 years 11,970,577 14,060,204 901,552 1,049,595 22,680,693 25,008,732 1,646,786 1,802,597 Less: Future finance income (6,211,906) (7,304,786) (555,519) (645,019) Less: Impairment (Note 21) (73,138) (79,398) (7,421) (7,872) Present value of finance lease assets 16,395,649 17,624,548 1,083,846 1,149,706 Present value of finance lease receivables: Not later than 1 year 1,387,678 1,247,158 71,840 67,115 Later than 1 year and not later than 5 years 5,397,268 1,356,888 344,486 72,629 Later than 5 years 9,683,841 15,099,900 674,941 1,017,834 16,468,787 17,703,946 1,091,267 1,157,578 Less: Impairment (Note 21) (73,138) (79,398) (7,421) (7,872) 16,395,649 17,624,548 1,083,846 1,149,706 Analysed as: Due within 12 months (Note 21) 1,387,678 1,247,158 71,840 67,115 Due after 12 months (Note 21) 15,007,971 16,377,390 1,012,006 1,082,591 16,395,649 17,624,548 1,083,846 1,149,706 The effective interest rate of the Group’s finance lease receivables is between 4.10% to 7.60% (2018: 4.10% to 7.60%). Included inminimum lease receivables are the estimated unguaranteed residual values of the leased assets of RM557,323,000 (2018: RM538,636,000). The effective interest rate of the Corporation’s finance lease receivable is 7.60% (2018: 7.60%). Included in minimum lease receivable is the estimated unguaranteed residual value of the leased assets of RM32,659,000 (2018: RM33,018,000). In the current financial year, the Group recognised total finance lease receivables amounting to RM154,014,000 in relation to delivery of ship. In prior year, the total finance lease receivables recognised at Group and Corporation were RM3,547,145,000 and RM1,149,902,000 respectively in relation to delivery of ships and offshore floating assets. NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 FINANCIAL STATEMENTS MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019 320 321