pg. 281 Financial Statements Integrated Annual Report 2025 NOTES TO THE FINANCIAL STATEMENTS - 31 December 2025 17. Islamic financing Group Fund 2025 RM 2024 RM 2025 RM 2024 RM Non current Term Financing-i (“TF-i”) (Note (a)) - 118,000,000 - 118,000,000 Business Financing-i (“BF-i”) (Note (b)) 60,000,000 70,000,000 60,000,000 70,000,000 Sukuk Ijarah (Note (c)) - 409,500,000 - - Sukuk Wakalah (Note (d)) 455,000,000 - - - 515,000,000 597,500,000 60,000,000 188,000,000 Less: Transaction cost (2,276,984) (3,221,966) (217,572) (473,116) 512,723,016 594,278,034 59,782,428 187,526,884 Current Sukuk Ijarah (Note (c)) - 45,500,000 - - Term Financing-i (“TF-i”) (Note (a)) 118,000,000 - 118,000,000 - 118,000,000 45,500,000 118,000,000 - Less: Transaction cost (25,002) - (25,002) - 117,974,998 45,500,000 117,974,998 - Total Islamic financing 630,698,014 639,778,034 177,757,426 187,526,884 (a) TF-i The TF-i profit is payable over a period of 60 months from the date of first disbursement. The effective profit rate for the TF-i will be based on COF which is based on the Bank’s COF + 1.45% per annum for the duration of the TF-i. The average effective profit rate for the TF-i is 5.27% (2024: 5.45%) per annum. The principal amount is to be expected to be paid in March 2024. The Bank, via letter dated 4 March 2024 agreed to extend the tenure for another 2 years to March 2026. As of 31 December 2025, the current liabilities of the Group and the Fund have exceeded the current assets by RM42,069,419 and RM44,201,400 respectively. In the opinion of the Manager, the Group will be able to meet their obligations and liabilities as and when they fall due on the basis that the Group will be able to repay their borrowings when it matures. As of 31 December 2025, the Group had borrowings of RM118,000,000 with contractual maturity dates in March 2026. Subsequent to year end, the Group obtained offer letter from the bank approving a one-year extension of the repayment tenure for the facilities. Accordingly, manager is of the view that the Group will be able to meet its repayment obligations as and when they fall due, and that the going concern basis of preparation remains appropriate.
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