MISC Integrated Annual Report 2020

20. OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (CONT’D.) (c) Interest-bearing loans and borrowings (cont’d.) The secured term loans and revolving credits are secured by mortgages over certain ships, together with charter agreements and insurance of the relevant assets as well as retention accounts. The carrying values of the ships pledged and retention accounts restricted for use are stated in Note 14(a) and Note 24 respectively. The range of interest rates as at the reporting date of the above interest-bearing loans and borrowings are as follows: Group Corporation 2020 2019 2020 2019 % % % % Fixed rate Term loans 1.85-4.44 2.90-4.44 – – Loans from subsidiaries – – 3.00 3.00 Lease liabilities 3.49-6.73 3.49-6.83 3.49 3.49 Floating rate Term loans 1.24-1.74 2.91-3.41 – – Revolving credits 0.89-1.59 2.48-2.91 0.89-1.39 2.48-2.66 Loans from subsidiaries – – 1.74 2.56 20. OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (CONT’D.) (c) Interest-bearing loans and borrowings (cont’d.) Changes in liabilities arising from financing activities: Group Term Revolving Lease Loans Credits Liabilities Total RM’000 RM’000 RM’000 RM’000 At 1 January 2020 9,404,337 3,109,722 638,114 13,152,173 Drawdown/additions 6,208,196 1,245,768 37,952 7,491,916 Repayment (2,824,030) (3,773,994) (339,678) (6,937,702) Amortisation of upfront fees 18,102 3,429 – 21,531 Accretion of interest (Note 10(b)) – – 23,376 23,376 Termination of lease contract – – (12,593) (12,593) The effect of changes in foreign exchange rates (350,613) 50,236 2,062 (298,315) At 31 December 2020 12,455,992 635,161 349,233 13,440,386 Corporation Loans from Revolving Lease subsidiaries Credits Liabilities Total RM’000 RM’000 RM’000 RM’000 At 1 January 2020 851,009 755,128 43,783 1,649,920 Drawdown/additions 770,366 735,303 – 1,505,669 Repayment (756,311) (1,152,114) (15,208) (1,923,633) Accretion of interest (Note 10(b)) – – 1,312 1,312 The effect of changes in foreign exchange rates (12,671) 4,106 34 (8,531) At 31 December 2020 852,393 342,423 29,921 1,224,737 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 10 404 10 405 /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// Section Section MISC Berhad / Integrated Annual Report 2020 MISC Berhad / Integrated Annual Report 2020