notes to the financial statements 31 march 2025 (cont’d.) 27. Loans and borrowings (cont’d.) Sukuk Wakalah The Company established an Islamic Commercial Papers (“ICP”) and Islamic Medium Term Notes (“IMTN”) programme with a combined limit of RM250 million in nominal value based on the Shariah principal of Wakalah Bi Al-Isঞthmar (“Sukuk Wakalah Programme”) (collecঞvely, 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. The details of the Sukuk Wakalah as at 31 March 2024 are as follows: Issuance date TENURE (MONTHS) NOMINAL VALUE RM’000 PROFIT RATE % MATURITY DATE ICP 15 March 2024 3 20,000 4.73 15 June 2024 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 Permied Investment (as defined in (Permitted investments, if applicable) ). 28. Lease liabilities GROUP 2025 RM’000 2024 RM’000 At beginning of the year 5,036 2,966 Addiঞons (Note 14) 217 2,256 Interest expense 215 195 Modificaঞon of lease liabiliঞes (Note 14) 144 1,217 Derecogniঞon due to lease modificaঞon (111) (339) Repayment of principal (915) (1,104) Repayment of interest expense (215) (195) Effect of movement in exchange rate (93) 40 At end of the year 4,278 5,036 Analysed by: Current liabiliঞes 1,441 1,619 Non-current liabiliঞes 2,837 3,417 4,278 5,036 Lease liabiliঞes are calculated using discount rate of 5.00% to 5.71% (2024: 5.00% to 5.71%). The Group had total cash oulows for leases amounঞng to RM1,501,000 (2024: RM1,418,000) for the financial year ended. 202 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 07 FINANCIAL STATEMENTS
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