32. BORROWINGS (CONT’D.) Fair value of all unexpired corporate guarantees given to bank for credit facilities granted to subsidiaries, joint ventures and associate was assessed to be RM nil (2023: RM nil) at the inception of issuance of the guarantees due to the likelihood of the guaranteed party defaulting is remote within the guaranteed period. As at reporting date, the Group has the following undrawn banking facilities: Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Banking facilities obtained by: - Company 1,293,092 73,010 1,293,092 73,010 - Subsidiaries 83,732 449,670 – – - Associate – 40,054 – – (a) Islamic Medium Term Notes 2024 2023 RM’000 RM’000 Sukuk Wakalah Programme 1 745,500 855,500 Sukuk Wakalah Programme 2 250,320 – 995,820 855,500 (i) Sukuk Wakalah Programme 1 On 22 April 2020, the Company had lodged the proposed establishment of a rated Islamic Medium Term Notes Programme of up to RM1.5 billion in nominal value based on the Shariah principles of Wakalah Bi Al-Istithmar and Murabahah (via Tawarruq arrangement) (“Sukuk Wakalah Programme 1”) with the Securities Commission Malaysia (“SC”) pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework (issued by the SC on 9 March 2015 and revised on 26 November 2019, as amended from time to time). The Company had issued the Sukuk Wakalah Programme 1 as follows: Yield-to- Amount maturity Due date of Tranche No Date of issuance RM’000 (per annum) repayment 1 14 May 2020 200,000 5.80% 14-May-27 2 30 June 20201 465,500 5.50% 30-Jun-23 2 30 June 2020 123,500 5.65% 30-Jun-25 3 3 September 2020 100,000 5.65% 3-Sep-25 4 8 October 20201 179,000 5.45% 6-Oct-23 4 8 October 2020 139,000 5.65% 8-Oct-25 5 15 April 2021 133,200 5.65% 15-Apr-26 5 15 April 2021 49,800 5.80% 14-Apr-28 6 8 June 20211 110,000 5.45% 7-Jun-24 1,500,000 1 These tranches have been fully repaid upon due date. FINANCIAL STATEMENTS & OTHER INFORMATION 323
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