Notes to the Financial Statements Registration No. 200301030845 (633265-K) - 112 - 25. Bank Borrowings (Cont’d) Maturity of bank borrowing is as follows: 2022 2021 2022 2021 RM RM RM RM Within one year 6,513,275 90,567,200 4,319,520 4,859,799 Between one to two years 5,107,117 9,013,364 887,578 8,999,229 Between two to five years 5,195,592 4,541,534 5,195,592 989,485 More than five years - 33,900 - - 16,815,984 104,155,998 10,402,690 14,848,513 Group Company 26. Trade Payables Credit terms of trade payables of the Group and Company ranged from 30 to 90 days (2021: 30 to 90 days) depending on the terms of the contracts. 27. Redeemable Preference Shares 2022 2021 2022 2021 Units Units RM RM Issued and fully paid: At 1 January 250,000 250,000 1,532,212 1,427,487 Interest - - 10,397 35,647 Exchange difference - - (185,169) 69,078 At 31 December 250,000 250,000 1,357,440 1,532,212 Number of shares Amount Group The redeemable preference shares are issued by a subsidiary, Destini Marine Safety Solutions Ltd. in August 2016. The preference shares holders are entitled to a return of 1% per annum and the shares are redeemable on 31 August 2019. Preference shares have been discounted using an effective interest rate of 10%. As at 31 December 2022, the preference shares have not been redeemed. As the redemption date is over, the Group is in discussion with the holders of the preference shares to redeem the preference shares. 190 DESTINI BERHAD ANNUAL REPORT 2022
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