Kimlun Corporation Berhad Annual Report 2024

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 23. Loans and borrowings (cont'd) Sukuk Murabahah Sukuk Murabahah bears interest ranging from 4.87% to 5.25% (2023: 4.49% to 5.06%) per annum. Movement in loans and borrowings were as follows: 2024 2023 2024 2023 RM RM RM RM At 1 January 413,373,990 307,638,406 87,860,000 80,900,000 Drawdown: - hire purchase payables 41,865,185 21,565,572 - - - loans and borrowings 1,007,645,864 417,537,432 60,310,000 12,860,000 Repayments: - hire purchase payables (15,079,587) (10,781,582) - - - loans and borrowings (804,509,866) (322,747,607) (32,860,000) (5,900,000) Unrealised foreign exchange loss 777,857 161,769 - - Net changes in bank overdrafts 6,062,589 - - - Disposal of a subsidiary (Note 15) (24,699,641) - - - Acquisition of subsidiaries (Note 15) 46,099,641 - - - At 31 December 671,536,032 413,373,990 115,310,000 87,860,000 The Company had established an Islamic Commercial Papers ("ICP") and Islamic Medium Term Note ("IMTN") programme with a combined limit of RM800 million in nominal value based on the Shariah principle of Murabahah (via Tawarruq Arrangement) (collectively, the ICP and the IMTN shall be refereed to as "Sukuk Murabahah"). The tenure of the ICP Programme is 7 years commencing from 22 December 2021, while the tenure of the IMTN Programme is perpetual. Group Company - 72 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 164

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