TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
95
NOTES TO THE FINANCIAL STATEMENTS
18. Borrowings
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Non-current
Term loans - unsecured
144,402
268,996
-
-
Medium Term Notes (“MTNs”) - unsecured
746,591
-
746,591
-
Recourse obligation on financing sold to Cagamas
Berhad - secured
14,775
24,047
-
-
905,768
293,043
746,591
-
Current
Term loans - unsecured
88,916
145,780
-
50,000
Bills payable - unsecured
162,640
401,784
-
-
Revolving credit - unsecured
246,170
544,582
-
-
Recourse obligation on financing sold to Cagamas
Berhad - secured
9,246
66,485
-
-
506,972 1,158,631
-
50,000
1,412,740 1,451,674
746,591
50,000
On 24 November 2014, the Company issued MTNs amounting to RM750 million under MTNs Programme. The MTNs
issued are as follows:
Tenure (years)
Interest rate
(per annum)
Maturity date
Nominal value
RM’000
5
4.5%
22 November 2019
250,000
7
4.7%
24 November 2021
500,000
750,000
The interest is payable every half yearly and the principal is repayable in full upon maturity.
Information on repayment terms and interest rates to the Group’s and the Company’s borrowings are as set out in Note
33.5.
19. Employee benefits
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Recognised liability for employee benefits
43,726
39,339
16,744
16,641
