McConnell Dowell 2018 Annual Review

McConnell Dowell Financial Statements 2018 29 All figures are in A$ 000’s Note 2018 2017 16. Other Current Liabilities Other current liabilities 16 - 10,000 TOTAL OTHER CURRENT LIABILITIES - 10,000 The other current liabilities balance at 30 June 2017 reflected an advance amount from a client, Perth Airport Pty Ltd. The advance was repaid within the year ended 30 June 2018. 17. Interest Bearing Loans & Borrowings Current Obligations under finance leases - Australia 17(a) - 2,550 Obligations under finance leases - Singapore 17(b) 13 412 Obligations under finance leases - Singapore Vehicles 17(b) 13 25 Chattel mortgage at 6.81% 17(c) - 532 Chattel mortgage at 5.90% 17(d) - 2,293 Chattel mortgage at 7.00% 17(e) 155 113 Chattel mortgage at 5.45% 17(f) 366 126 Chattel mortgage at 4.58% 17(g) 278 142 Trade Finance Loan 4.63% 17(i) 6,155 - Secured loan - Indonesia 17(h) 4,799 4,193 TOTAL CURRENT INTEREST BEARING LOANS & BORROWINGS 11,779 10,386 Non-current Obligations under finance leases - Singapore Vehicles 116 135 Chattel mortgage at 7.00% 17(e) 194 263 Chattel mortgage at 5.45% 17(f) 757 390 Chattel mortgage at 4.58% 17(g) 517 301 Secured loan - Indonesia 17(h) 6,799 10,132 TOTAL NON-CURRENT INTEREST BEARING LOANS & BORROWINGS 8,383 11,221 TOTAL CAPITALISED FINANCE LEASE OBLIGATIONS 20 142 3,122 Consolidated 17(a) - The Group had entered into finance lease agreements in Australia for the sale and leaseback of construction equipment. The term of the obligation was 5 years with an average cost of funding of approximately 5.8%. The leases had no terms of renewal and no obligation to repurchase. Finance lease obligations were secured against the equipment purchased. 17(b) - The Group has entered into finance lease agreements in Singapore for the sale and leaseback of construction equipment. The term of the obligation is average 2.5 years with an average cost of funding of approximately 1.5%. The leases have no terms of renewal and no obligation to repurchase. Finance lease obligations are secured against the equipment purchased. 17(c) - In September 2014 the Group entered into an Equipment Chattel Mortgage. The term of the obligation is 3 years with a fixed cost of funding of 6.81%. The mortgage was secured by plant and equipment. 17(d) - In June 2016 the Group entered into an Equipment Chattel Mortgage. The term of the obligation is 2 years with a fixed cost of funding of 5.90%. The mortgage was secured by plant and equipment. 17(e) - In August 2016 the Group entered into an Equipment Chattel Mortgage. The term of the obligation is 4 years with a fixed cost of funding of 7.00%. The mortgage is secured by plant and equipment. 17(f) - In April 2017 the Group entered into an Equipment Chattel Mortgage. The term of the obligation is 4 years with a fixed cost f funding of 5.45%. The mortgage is secured by plant and equipment. 17(g) - In June 2017 the Group entered into an Equipment Chattel Mortgage. The term of the obligation is 3 years with a fixed cost of funding of 4.58%. The mortgage is secured by plant and equipment. 17(h) - In November 2016 the Group entered into a secured loan agreement in Indonesia. The term of the obligation is 4 years with a fixed cost of funding of 4.6%. The loan has no terms for renewal, and has an option for the drawdown of further funds. The loan obligation is secured against land & building held. 17(i) - In April 2018 the Group entered into a 100 day loan to finance fabricated steel procured from China. The interest rate was 4.63%. It was repaid in July 2018. Information regarding foreign exchange, interest rate and liquidity risk exposures are set out in Note 22. McConnell Dowell Annu l Review 65