Dagang NeXchange Berhad Annual Report 2019

FINANCIAL STATEMENTS annual report 2019 155 18. LOANS AND BORROWINGS (CONTINUED) 18.3 The revolving credits bore effective interest rates ranging from 5.80% to 6.10% (2018: 5.85% to 6.10%) per annum and are secured by a Clean Facility arrangement as the principal instrument. 18.4 Other bank facilities represents invoice financing and import line which bore effective interest rates ranging from 7.05% to 7.15% (2018: 8.49%) per annum and are secured by a marginal deposit and a corporate guarantee of the Company. 18.5 The bank overdrafts bore effective interest rates ranging from 5.50% to 8.35% (2018: 5.50% to 8.35%) per annum and are secured by: (i) pledges of deposits with licensed banks as disclosed in Note 15 to the financial statements; (ii) a standing instruction against sinking funds account; and (iii) a corporate guarantee of the Company. 18.6 Reconciliation of movements of liabilities to cash flows arising from financing activities Adjustment Repayment on initial Proceeds Repayment of borrowing At application from of borrowing finance At 1.1.2019 of MFRS 16 drawdown principal charges 31.12.2019 Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Term loans 19,142 - 4,724 (1,898) - 21,968 Finance lease liabilities 502 (404) - (98) - - Revolving credits 18,000 - 15,000 (5,000) - 28,000 Other bank facilities 2,893 - 9,398 (6,717) - 5,574 40,537 (404) 29,122 (13,713) - 55,542 Acquisitions Repayment through Proceeds Repayment of borrowing At business from of borrowing finance At 1.1.2018 combinations drawdown principal charges 31.12.2018 Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Term loans 20,000 143 - (1,001) - 19,142 Finance lease liabilities - 763 - (227) (34) 502 Revolving credits - - 18,000 - - 18,000 Other bank facilities - - 2,893 - - 2,893 Murabahah revolving facility - 57,609 - (57,609) - - 20,000 58,515 20,893 (58,837) (34) 40,537