Press Metal Aluminium Holdings Berhad SECTION 6 • FINANCIAL STATEMENTS 284 Notes to the Financial Statements 16. LOANS AND BORROWINGS (CONT’D) 16.2 Islamic Medium-Term Notes (cont’d) Significant covenants i) The consolidated financial statements of the Group shall maintain a maximum Finance to Equity Ratio of not more than 1.75 times; and ii) The Company shall maintain its existing shareholdings in Press Metal Sarawak Sdn. Bhd. and Press Metal Bintulu Sdn. Bhd. (collectively known as “material subsidiaries”). The Company and/or its material subsidiaries are, subject to certain thresholds, limitations, exceptions and qualifications, limited from: • issuing guarantees; • entering into transactions with shareholders or affiliates; • creating any liens; • selling assets; • reducing of share capital; • lending or advancing any money to any other parties; • entering into partnership; • changing of proceeds utilisation; • substantially changing the nature or scope of its business; and • effecting a consolidation, merger or reorganisation. 16.3 Bankers’ acceptances Group 2024 RM’000 2023 RM’000 Guaranteed by the Company 400,634 19,493 16.4 Revolving credits Group 2024 RM’000 2023 RM’000 Guaranteed by the Company 284,261 184,043 16.5 Bank overdrafts Group 2024 RM’000 2023 RM’000 Guaranteed by the Company 4 7,369 Guaranteed by a director - 997 4 8,366
RkJQdWJsaXNoZXIy NDgzMzc=