32. BORROWINGS (CONT’D.) (a) Islamic Medium Term Notes (cont’d.) (ii) Sukuk Wakalah Programme 2 (cont’d.) The Company had issued the Sukuk Wakalah Programme 2 as follows: Tranche No Date of issuance Amount RM’000 Yield-to- maturity (per annum) Due date of repayment 1 13 November 2024 250,320 6.25% 13-Nov-28 2 20 June 2025 100,000 5.70% 18-Jun-27 3 12 September 2025 100,000 5.00% 10-Sep-27 4 14 November 2025 300,000 5.80% 14-Nov-28 5 5 December 2025 75,000 6.00% 5-Dec-29 6 5 December 2025 75,000 6.10% 5-Dec-30 900,320 The Sukuk Wakalah Programme 1 and 2 allow for the issuance of rated and senior ranking sukuk (“Sukuk Wakalah”) from time to time, with flexibility for the Company to issue secured and/or unsecured Sukuk Wakalah subject to the aggregate outstanding nominal amount of each Sukuk Wakalah not exceeding RM1.5 billion at any point in time. The Sukuk Wakalah is secured by third party legal charge over the lands held under inventories as disclosed in Note 16 and Financial Service Reserve Account as disclosed in Note 26. According to the Sukuk subscription agreements, the Group and the Company are required to deposit and/or cause to be deposited into the designated account and amount equivalent to the principal payment due and payable under respective tranches which shall be built up in accordance with the build-up schedule. The proceeds from the issuance of the Sukuk Wakalah shall be utilised by the Company and/or its group of companies for the following Shariah-compliant purposes: (a) to finance capital expenditure and/or investments (including but not limited to the purchase of land(s), building(s), shares, property and/or payment into joint ventures) of the Company and/or its group of companies, all of which shall be Shariah-compliant; (b) to finance working capital of the Company and/or its group of companies; (c) to refinance existing conventional borrowings and/or existing/future Islamic financing facilities of the Company and/or its group of companies; (d) to finance general corporate purpose of the Company and/or its group of companies; and/or (e) to defray fees, costs and expenses in relation to the issuance of the Sukuk Wakalah and Sukuk Wakalah Programme. 351
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