AUDITED FINANCIAL STATEMENTS 2022 157 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 45 LOANS DUE TO SUBSIDIARIES Company 2022 RM’000 2021 RM’000 Unsecured: - Non-current 736,486 806,047 - Current 74,548 742 811,034 806,789 The loans are denominated as follows: - Ringgit Malaysia 811,034 806,789 811,034 806,789 Effective finance rate for the loans at date of statement of financial position per annum is as follows: Company 2022 2021 Finance rate Effective finance rate % Finance rate Effective finance rate % Loans due to subsidiaries Fixed 5.02 Fixed 5.02 The carrying amount and fair value of the loans due to subsidiaries are as follows: Company Carrying amount Fair value 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Loans due to subsidiaries 811,034 806,789 822,948 809,782 The fair value of loans due to subsidiaries is based on cash flows discounted using a rate based on the borrowing rate of 5.02% (2021: 5.02%). The fair value of the loans due to subsidiaries is a Level 2 computation. The terms of long term loans due to subsidiaries are from 26 December 2019 until 31 December 2034 (2021: 26 December 2019 until 31 December 2034) with interest ranging from 5.02% to 5.78% (2021: 5.02% to 5.78%). Cash flows and non-cash changes arising from loans due to subsidiaries, financing activities are disclosed in statements of cash flows.
RkJQdWJsaXNoZXIy NDgzMzc=