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224
Gamuda Berhad (29579-T) • Annual Report 2012
34. Long term borrowings (cont’d.)
(b)
Term loans - secured (cont’d)
3.
assignment of Toll Revenue and Designated Accounts by SMARTSB including all its rights,
interests, titles and benefits;
4.
Deed of Subordination whereby PShSB has subordinated or agreed to subordinate all loan stocks
held; and
5.
an undertaking from PShSB and an undertaking from the shareholders of PShSB to promptly
provide funding for the Project as and when required tomeet cost overruns during the construction
and cash flow deficits during the operations.
The term loan was obtained on a non-recourse basis to the Group.
Term loan is repayable as follows:
Group
2012
2011
RM’000
RM’000
Within one year (Note 35(c))
2,423
805
Between two to five years
39,567
30,685
More than five years
118,703
130,008
160,693
161,498
(ii)
The term loan was drawndown by a subsidiary, Jade homes Sdn. Bhd. for the purpose of repayment
of shareholders’ advances for cost incurred in relation to land costs, infrastructure, earth works and
land conversion premium on the Jade hills project. The facility is secured by a charge over freehold land
under development as disclosed in Note 13.
Term loan is repayable as follows:
Group
2012
2011
RM’000
RM’000
Within one year (Note 35(c))
44,520
44,520
Between two to five years
111,754
158,644
156,274
203,164
(iii)
The term loan is drawndown by a subsidiary, Sai Gon Thuong Tin Tan Thang Investment Real Estate
Joint Stock Company (“Tan Thang Company”) which the long term borrowings represents the loan from
Sacombank in Vietnam. The term loan is secured by leasehold land under development as disclosed in
Note 13 and bore interest rate of 17.4% per annum.
Term loan is repayable as follows:
Group
2012
2011
RM’000
RM’000
Within one year (Note 35(c))
38,355
-
Between two to five years
190,578
154,630
228,933
154,630
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012