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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
21. RESERVES (CONT’D)
Retained earnings
Under the single tier tax system, tax on the Company’s profits is the final tax and accordingly, any dividends to the
shareholders are not subject to tax.
22. TERM LOANS
The Group
The Company
2016
2015
2016
2015
RM
RM
RM
RM
Principal outstanding
24,074,255
30,655,157
4,128,510
6,065,353
Less: Portion due within one year (Note 25)
(3,813,871)
(4,642,193)
(2,090,734)
(1,933,367)
Non-current portion
20,260,384
26,012,964
2,037,776
4,131,986
The non-current portion is repayable as follows:
The Group
The Company
2016
2015
2016
2015
RM
RM
RM
RM
Later than one year but not later than
five years
16,986,266
22,941,082
2,037,776
4,131,986
Later than five years
3,274,118
3,071,882
-
-
20,260,384
26,012,964
2,037,776
4,131,986
(a) The term loans are secured by
:
(i)
legal charges over certain freehold land and buildings of the Group as disclosed in Note 10 to the financial
statements;
(ii) legal charges over the long-term leasehold land and buildings of the Group as disclosed in Note 10 to the
financial statements;
(iii) corporate guarantees of the Company; and
(iv) fixed deposits as disclosed in Note 15 to the financial statements.
(b) The interest rate profile of the term loans is summarised below
:
Effective Interest Rate
The Group
2016
2015
2016
2015
%
%
RM
RM
Floating rate term loans
1.40 - 6.46
1.68 - 6.72
24,074,255
30,655,157
Notes To The Financial Statements
(cont’d)