NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 (CONT’D) 22. SUKUK WAKALAH The Company had established an Islamic Commercial Papers (“ICP”) and Islamic Medium Term Note (“IMTN”) programme with a combined limit of RM250 million in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar (“Sukuk Wakalah Programme”) (collectively, the ICP and the IMTN shall be referred to as “Sukuk Wakalah”). The Sukuk Wakalah Programme is for tenures of 7 years commencing from 15 August 2017 to 14 August 2024. Details of the Sukuk Wakalah as at 31 March 2024 are as follows:- PERIODIC NOMINAL DISTRIBUTION RATE TENURE VALUE (PER ANNUM) DATE OF ISSUANCE (MONTHS) RM’000 % MATURITY DATE ICP 15 March 2024 3 20,000 4.73 15 June 2024 Details of the Sukuk Wakalah as at 31 March 2023 are as follows:- PERIODIC NOMINAL DISTRIBUTION RATE TENURE VALUE (PER ANNUM) DATE OF ISSUANCE (MONTHS) RM’000 % MATURITY DATE IMTN 19 November 2018 60 20,000 6.85 17 November 2023 ICP 20 March 2023 3 60,000 4.72 20 June 2023 80,000 (a) Details of the Sukuk Wakalah outstanding are as follows:- THE GROUP/ THE COMPANY 2024 2023 RM’000 RM’000 Current liabilities (Note 29) 20,000 80,000 (b) The Sukuk Wakalah are secured by first legal assignment and charge of the Finance Service Reserve Account (“FSRA”) and monies standing to the credit of the FSRA, including Permitted Investment (as defined in (Permitted investments, if applicable)). FINANCIAL STATEMENTS MATRIX CONCEPTS HOLDINGS BERHAD 184
RkJQdWJsaXNoZXIy NDgzMzc=