Page 168 - Exim iar24_Ebook

EXIM BANK MALAYSIA
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NOTES TO THE FINANCIAL STATEMENTS

24. SHARE CAPITAL AND REDEEMABLE CONVERTIBLE CUMULATIVE PREFERENCE SHARES (cont’d)
(a) Share capital (cont’d)
The Special Rights shareholder may, subject to the provision of the Companies Act 2016, require the Bank to redeem the
Special Share at par at any time by serving written notice upon the Bank and delivering the relevant share certificate.
The Special Rights shareholder shall determine on general guidelines pertaining to lending, investments and divestment
by the Bank from time to time as deemed appropriate.

(b) Redeemable convertible cumulative preference shares
On 21 December 2017, the Bank received an advance from MoF, Inc of RM250 million. This advance carries a financing
cost of 4.7%. This advance is to be capitalised as Redeemable Convertible Cumulative Preference Shares (“RCCPS”) via
a Subscription Agreement based on the terms that was approved by BNM on 21 November 2017 and 30 January 2018.
The Bank has obtained the shareholder’s approval on the proposed RCCPS issuance via Extraordinary General Meeting
held on 8 March 2018.
The key terms are as follows:
Tenure: Based on perpetual from 8 March 2018.

Dividend rate: 4.7% per annum, payable semi-annually in arrears.
Conversion right: Shall not constitute a cancellation, redemption or termination of a RCCPS but will be by way of
variation to the status of, and rights attaching to, the RCCPS so that it becomes an ordinary shares.
The conversion is at the option of the Ministry of Finance (on behalf of the Government of Malaysia).

25. OPERATING REVENUE

Operating revenue of the Group and the Bank comprises gross interest income, fee and commission income, insurance/takaful
service revenue and income from Islamic banking fund.
Group and Bank
2024 2023
RM’000 RM’000
Restated
Interest income from non-impaired loans 106,795 129,413
Interest income from impaired loans 44,123 34,637
Income derived from Islamic banking fund 106,204 90,182
Income from banking fees 14,496 10,988
Insurance/takaful service revenue 6,557 14,071
Others 20,783 3,067
298,958 282,358