24. BORROWINGS (continued) (a) Term loans of the Group with a total carrying amount of RM2,326,000 (2020: RM5,632,000) are secured by way of: (i) a charge over the leasehold land under development as disclosed in Note 18(c) to the financial statements; and (ii) deposits maintained in a designated Debt Service Reserve Account with a licensed bank as disclosed in Note 20(a) to the financial statements. The term loans of the Group with a total carrying amount of RM52,735,000 (2020: RM53,215,000), trade bills and bank overdraft of the Group are secured by a pledge over the Group’s freehold land, buildings and certain plant and machinery with a total carrying amount of RM15,620,000 (2020: RM15,824,000) as disclosed in Note 7 to the financial statements and the Group’s long-term leasehold land with a total carrying amount of RM14,747,000 (2020: RM15,085,000) as disclosed in Note 8(a) to the financial statements. In the previous financial year, the term loans of the Group with a total carrying amount of RM1,574,000 were secured by a pledge over the Group’s deposits placed with financial institutions of RM1,527,000 as disclosed in Note 20(b) to the financial statements. The term loans, trade bills and bank overdraft granted to the subsidiaries are guaranteed by the Company amounted to RM18,996,000 (2020: RM21,822,000) as disclosed in Note 29 to the financial statements. (b) The currency exposure profile of borrowings are as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 55,494 59,118 - - United States Dollar 1,874 226 - - Singapore Dollar - 1,874 - - 57,368 61,218 - - (c) The borrowings of the Group bear the following interest rates per annum: 2021 2020 % % Term loans 3.36 – 6.25 3.25 - 7.50 Trade bills 2.10 – 2.15 2.10 - 7.00 Bank overdraft 7.39 – 7.64 7.39 - 7.64 (d) Information on financial risks of borrowings and its remaining maturity is disclosed in Note 38 to the financial statements. NOTES TO THE FINANCIAL STATEMENTS 155 P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 31 December 2021 (cont’d)
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