35. BORROWINGS (CONTD.) The maturity profile of the loans and borrowings are as follows: Group Company 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Within one year 142,131 175,519 59,050 85,000 More than 1 year and less than 2 years 43,447 51,997 – – More than 2 years and less than 5 years 250,000 262,347 250,000 250,000 293,447 314,344 250,000 250,000 435,578 489,863 309,050 335,000 (a) Term loans Secure term loans bear interests which range from 4.71% to 5.91% per annum (2023: 4.30% to 5.22% per annum). The term loans are secured by: (i) Assignment of rights, title, interest and benefits of the customer under the Concession Agreement in respect of the followings: – Project payment charges – Amount payable to the customer by the Government of Malaysia as a result of early termination – Appointment of substituted entity (ii) Assignment of proceeds over revenue and other income generated from a project; (iii) Assignment over designated accounts; (iv) Letter of undertaking from a subsidiary to service the monthly obligation of the customer in the event of any shortfall; (v) Corporate guarantee from a subsidiary; (vi) Deed of assignment and charge over a bank account; and (vii) Fixed and floating charge over present and future assets. (b) Islamic Commercial Papers (“ICPs”) and Islamic Medium Term Notes (“IMTNs”) The Company had established the ICPs and IMTNs under an Islamic Commercial Papers Programme and Islamic Medium Term Notes Programme respectively, which have a combined aggregate limit of up to RM1,000 million in nominal value and a sub-limit of RM300 million in nominal value for the ICP Programme under the Shariah Principle of Murabahah via a Tawarruq Arrangement. The tenure for ICPs and IMTNs are at 7 and 30 years, respectively from the date of the first issue. ICPs Upon reaching its maturity in 2021, the Company redeemed its outstanding ICPs and did not make any reissuance. IMTNs The Company redeemed its outstanding IMTNs amounting to RM250.0 million in nominal value upon its maturity on 26 April 2022. On the same date, the Company reissued the IMTNs with the same nominal value with a tenor of four years. The IMTNs will mature on 24 April 2026. The effective profit rates for IMTNs at the reporting date is 4.25% (2023: 4.05%). Notes to the Financial Statements For the year ended 31 December 2024 349 FINANCIAL STATEMENTS
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