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146 EXIM BANK MALAYSIA
Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS

17. BORROWINGS (CONT’D.)
Borrowings of the Group and the Bank comprise the followings: (cont’d.)

Term loans/Revolving credits (cont’d.)
(h) Multi-Currency Murabahah Revolving Credit-i up to an aggregate of EUR120,000,000 (approximately RM592,956,000)
(2019: EUR120,000,000 (approximately RM550,884,000)). 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%
(2019: 0.80%) per annum above EURIBOR for EUR and 0.80% above COF for USD and GBP. As at year end 2020,
the Bank has outstanding amount of EUR10,700,000 (approximately RM52,871,910) and GBP50,000,000 (approximately
RM274,520,000) under the facility.
(i) Revolving multi currency loan up to an aggregate of USD50,000,000 (approximately RM200,850,000) (2019 : USD50,000,000
(approximately RM204,650,000)).
The loan was obtained on 17 February 2014 and renewable yearly. Interest on loan is charged at the rate of 0.80%
(2019 : 0.80%) per annum over cost of fund. The loan was cancelled on 17 August 2020.
(j) Commodity Murabahah Revolving Credit-i up to an aggregate of USD20,000,000 (approximately RM80,340,000)
(2019 : USD40,000,000 (approximately RM163,720,000)).

The financing was obtained on 29 October 2015 and renewable yearly. Profit rate on the financing is charged at the rate of
0.93% (2019 : 0.93%) per annum above LIBOR. On 8 May 2020, the amount was reduced to USD20,000,000.

(k) Multi-currency commodity Murabahah Revolving Credit-i up to an aggregate of USD75,000,000 (approximately
RM301,275,000) (2019 : USD75,000,000 (approximately RM306,975,000)). This facility is available for utilisation in USD,
EUR and JPY.

The financing was obtained on 26 February 2016 and renewable yearly. Profit rate on the financing was revised to 0.75%
(2019: 1.00%) per annum above the LIBOR for USD and 0.75% per annum above COF for EUR and JPY on 31 December
2020. In 2020, the Bank has not drawn down any amount in currency other than USD.
(l) Commodity Murabahah Revolving Credit-i up to an aggregate of USD25,000,000 (approximately RM100,425,000)
(2019 : USD25,000,000 (approximately RM102,325,000)).

The financing was obtained on 28 January 2016. Profit rate on the financing is charged at the rate of 0.45% (2019 : 0.45%)
per annum above the Islamic Cost of Fund.

(m) The term loan placement from the Government of Malaysia for Malaysian Kitchen Financing Facility Scheme amounting
to RM170,100,000 for the purpose of providing loans to qualified applicants under the Malaysia The Truly Asian Kitchen
or Malaysia Kitchen Program.

The placement is interest-free and repayable after a period of fifteen (15) years from dates of disbursement of 14 December
2007 and 15 January 2009.

In June 2016, the Bank has partially repaid to Government of Malaysia amounting to RM134,171,653. The remaining
amount available for utilisation under this Scheme is RM35,928,347.
(n) Commodity Murabahah Revolving Credit-i up to an aggregate of USD50,000,000 (approximately RM200,850,000)
(2019 : USD50,000,000 (approximately RM204,650,000)) renewable after one (1) year.
The financing was obtained on 14 November 2020. Profit rate on the financing is charged at the rate of 0.75% per annum
above LIBOR.