CAHYA MATA SARAWAK ANNUAL REPORT 2016

129 Cahya Mata Sarawak Berhad A N N U A L R E P O R T 2 0 1 6 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 7. FINANCE COSTS Group Company 2016 2015 2016 2015 RM’000 RM’000 RM’000 RM’000 Interest expense on: - Bank borrowings and bank overdraft 16,280 6,760 207 - - Corporate shareholder’s loan - 47 - - - Amount due to subsidiaries under central cash management account - - 30,070 25,681 - Amount due to a joint venture 82 - - - - Unwinding of discount - 55 - - - Land premium payable 4,948 11,755 - - 21,310 18,617 30,277 25,681 Interest expense capitalised in: - Property, plant and equipment (Note 13(d)) - (3,368) - - - Land held for property development (Note 15(a)) (5,086) (10,712) - - - Property development costs (Note 15(b)) (6,189) (4,174) - - (11,275) (18,254) - - 10,035 363 30,277 25,681 Other finance costs: - Trade facility charges 530 665 - - - Facility fee and commitment fee 40 38 30 30 570 703 30 30 10,605 1,066 30,307 25,711 Recognised in profit or loss as: - Cost of sales 5 - 30,070 25,681 - Finance costs 10,600 1,066 237 30 10,605 1,066 30,307 25,711