7 FINANCIAL STATEMENTS 349 35. BORROWINGS (CONTD.) (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% (2024: 4.25%). As at 31 December 2025, the Group and Company have reclassified the existing IMTNs amounting to RM250.0 million which will mature on 24 April 2026 from non-current liabilities to current liabilities. As stipulated in the IMTNs agreement, the Company may submit an issue request to the facility agent, whereby the Company can select the maturity period provided that the tenure for the IMTNs shall not extend beyond the IMTN Programme tenure of 30 years from the date of first issue, which was on 26 April 2017, upon meeting all the conditions precedents. As at 31 December 2025, the remaining tenure of the IMTN Programme is 21 years. The Company has implemented its plan to redeem and reissue the IMTNs to extend the tenure of the current IMTNs for another period or a period deemed fit. The Company expects to successfully complete and meet all the conditions precedents to redeem and reissue the IMTNs prior to the maturity date of 24 April 2026. (c) Revolving credit Unsecured revolving credit of the Group and the Company bears interest of 3.78% (2024: 4.05%). Secured revolving credit of the Group bears interest rate at the range between 2.08% and 5.83% (2024: between 1.87% and 4.46%). The facility is secured by corporate guarantee from fellow subsidiaries and contracts proceeds. Reconciliation of liabilities arising from financing activities Group 2025 RM’000 2024 RM’000 Cash flows Non-cash changes Interest cost and others RM’000 Principal movement RM’000 *Interest paid RM’000 Term loan 43,223 89,319 (45,444) (3,275) (652) IMTNs 250,000 250,000 - (10,625) - Revolving credit 102,556 96,259 8,550 (3,341) (2,253) Lease liabilities 20,246 26,219 (8,966) (950) 2,993 416,025 461,797 (45,860) (18,191) 88
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