NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 18. Islamic financing (cont’d) Commodity Murabahah-III On 4 May 2021, the Group and the Fund obtained the Commodity Murabahah - III is payable over a period of 60 and 84 months for Tranche 1 and Tranche 2 respectively from the date of first disbursement with bullet repayment of the principal sumon the 60th and 84thmonths respectively. The Commodity Murabahah - II bears a profit rate of 1.15% and 1.25% (2020: Nil) per annum for Tranche 1 and Tranche 2 respectively above the bank’s Cost of Funds (“COF”). As at reporting date, the profit rate for the Commodity Murabahah is 3.32% and 3.44% (2020: Nil) per annum for Tranche 1 and Tranche 2 respectively. The Commodity Murabahah - II was secured against the investment properties which amounting to RM1,103,500,000 (2020: RM NIL) as disclosed in Note 10. Changes in liabilities arising from financing activities: At Charged to At 1 January profit or 31 December 2021 Cash flows loss Reclassification 2021 RM RM RM RM RM Group Non-current Commodity Murabahah - I 80,000,000 - - - 80,000,000 Commodity Murabahah - II 29,994,050 - - - 29,994,050 Commodity Murabahah - III - 580,000,000 - - 580,000,000 109,994,050 580,000,000 - - 689,994,050 Less: Transaction costs on Islamic financing (924,360) (6,209,872) 1,017,149 - (6,117,083) 109,069,690 573,790,128 1,017,149 - 683,876,967 Current IMTN 575,000,000 (575,000,000) - - - Less: Transaction costs on Islamic financing (482,435) (67,450) 549,885 - - 683,587,255 (1,277,322) 1,567,034 - 683,876,967 GOVERNANCE STRUCTURE FINANCIAL REPORTS 185 AN PO STRATEGIC PERFORMANCE CORPORATE OVERVIEW THE DRIVING FORCES SUSTAINABILITY STATEMENT
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