Page 165 - EXIM-Bank_Annual-Report-2023

Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 163

Notes to the fiNaNcial statemeNts

19. BorroWINGS (cont’d)
Borrowings of the Group and the Bank comprise the followings:

Term loans/Revolving credits
(a) Revolving multi-currency loan up to an aggregate of USD50,000,000 (approximately RM229,500,000) (2022: USD50,000,000
(approximately RM219,500,000)). This facility is available for utilisation in USD, GBP, SGD and EUR.

The loan was obtained on 25 June 2009. The principal and interest of the loan was revised to USD100,000,000 and 0.80%
respectively on March 2014, revised to USD150,000,000 on July 2014 and revised to USD50,000,000 on November 2022.
Interest on the loan is charged at the rate of 0.80% (2022: 0.80%) per annum above SOFR for USD and 0.80% above COF
for GBP, SGD and EUR.
(b) The financing was obtained on 10 November 2010 for USD30,000,000, renewed on 14 December 2011, 21 March
2014 and 2 March 2015 with additional amounts of USD10,000,000, USD30,000,000 and USD30,000,000 respectively.
On 21 November 2019, the amount was reduced to USD50,000,000. Profit rate on the financing was charged at the rate
of 0.80% and has been subsequently revised to 0.50% (2022: 0.50%) per annum above the Islamic Cost of Fund since
March 2014. In 2023, the Bank has outstanding amount of AUD19,100,000 (approximately RM59,804,010) under the
facility.
(c) Revolving Euro loan of one (1) year up to an aggregate of EUR30,000,000 (approximately RM152,304,000)
(2022: EUR30,000,000 (approximately RM140,538,000)).
The loan was obtained on 12 March 2012. Interest rate on the loan is charged at the rate of 0.80% (2022: 0.80%)
per annum above Euro Interbank Offer Rate (“EURIBOR”).
(d) Commodity Murabahah Revolving Credit-i up to an aggregate of USD25,000,000 (approximately RM114,750,000)
(2022: USD25,000,000 (approximately RM109,750,000)) renewable after one (1) year.

The financing was obtained on 13 May 2013. Profit rate on the financing is charged at the rate of 0.50% (2022: 0.50%)
per annum above the Islamic Cost of Fund.

(e) Commodity Murabahah Revolving Credit-i up to an aggregate of USD20,000,000 (approximately RM91,800,0000)
(2022: USD20,000,000 (approximately RM87,800,000)) renewable after one (1) year.
The financing was obtained on 15 August 2013. Profit rate on the financing is charged at the rate of 0.75% (2022: 0.75%)
per annum above the Islamic Cost of Fund. On 27 July 2020, the financing amount was reduced to USD20,000,000
(approximately RM80,340,000).
(f) Multi-Currency Murabahah Revolving Credit-i up to an aggregate of EUR120,000,000 (approximately RM609,216,000)
(2022: EUR120,000,000 (approximately RM562,152,000)). This facility is available for utilisation in EUR, USD and GBP.
The financing was obtained on 18 September 2013. Profit rate on the financing is charged at the rate of 0.80%
(2022: 0.80%) per annum above EURIBOR for EUR and 0.80% above COF for USD and GBP.
(g) Multi-currency Commodity Murabahah Revolving Credit-i up to an aggregate of USD75,000,000 (approximately
RM344,250,000) (2022: USD75,000,000 (approximately RM329,250,000)). This facility is available for utilisation in USD,
EUR and JPY.
The financing was obtained on 25 February 2016 and renewable yearly. Profit rate on the financing was revised to
0.75% (2022: 0.75%) per annum above the SOFR and CAS for USD and 0.75% per annum above COF for EUR and JPY
on 31 December 2023.