PURPOSE
To show illustration of term loan with interest capitalisation.
OVERVIEW
TRANSACTION DETAILS
| Accounting Base Ccy |
| Trade ID |
| Transaction |
| Trade Date |
| Initial Draw Date |
| Maturity Date |
| Currency |
| Amount |
| Frequency |
| Accrual Method |
| SGD |
| TML1001 |
| Borrow |
28-Sep-11 |
28-Sep-11 |
1-Mar-12 |
USD |
270,000,000.00 |
Monthly |
Act/360 |
Repayment Schedule
| From Date | To Date | Activity | Rate | Principal | Int Capitalised | Interest | Outstanding |
|---|---|---|---|---|---|---|---|
| 28-Sep-11 | 28-Sep-11 | Drawdown | 5.638890% | 270,000,000.00 | 0.00 | 0.00 | 270,000,000.00 |
| 28-Sep-11 | 1-Oct-11 | Capitalise Int | 5.638890% | 0.00 | 126,875.03 | 0.00 | 270,126,875.03 |
| 1-Oct-11 | 1-Nov-11 | Capitalise Int | 5.640000% | 0.00 | 1,311,916.19 | 0.00 | 271,438,791.22 |
| 1-Nov-11 | 1-Dec-11 | Capitalise Int | 5.645280% | 0.00 | 1,276,956,65 | 0.00 | 272,715,747.87 |
| 1-Dec-11 | 1-Jan-12 | Repay P + I | 5.671440% | -2,715,747.87 | 0.00 | 1,331,872.81 | 270,000,000.00 |
| 1-Jan-12 | 1-Feb-12 | Repay P + Capitalise Int. | 5.695300% | -3,324,157.25 | 1,324,157.25 | 0.00 | 268,000,000.00 |
| 1-Feb-12 | 20-Feb-12 | Additional drawdown | 5.695300% | 10,000,000.00 | 0.00 | 805,568.54 | 278,000,000.00 |
| 20-Feb-12 | 1-Mar-12 | Final Repay | 5.695300% | -278,000,000.00 | 0.00 | 439,803.72 | 0.00 |
SUMMARY OF JOURNALS
| ID | Date | Description |
|---|---|---|
| J1 | 28-Sep-11 | Settlement of Term Loan |
| J2 | 30-Sep-11 | Month End Term Loan Accruals. |
| J3 | 1-Oct-11 | Reversal Month End Term Loan Accruals. |
| J4 | 1-Oct-11 | Interest Capitalisation |
| J5 | 31-Oct-11 | Month End Term Loan Accruals. |
| J6 | 1-Nov-11 | Reversal Month End Term Loan Accruals. |
| J7 | 1-Nov-11 | Interest Capitalisation |
| J8 | 30-Nov-11 | Month End Term Loan Accruals. |
| J9 | 1-Dec-11 | Reversal Month End Term Loan Accruals. |
| J10 | 1-Dec-11 | Interest Capitalisation |
| J11 | 31-Dec-11 | Month End Term Loan Accruals. |
| J12 | 1-Jan-12 | Reversal Month End Term Loan Accruals. |
| J13 | 1-Jan-12 | Principal and Interest Settlement of Term Loan |
| J14 | 31-Jan-12 | Month End Term Loan Accruals. |
| J15 | 1-Feb-12 | Reversal Month End Term Loan Accruals. |
| J16 | 1-Feb-12 | Principal Settlement and Interest Capitalisation on Term Loan |
| J17 | 20-Feb-12 | Additional drawdown and Interest Settlement on Term Loan |
| J18 | 29-Feb-12 | Month End Term Loan Accruals. |
| J19 | 1-Mar-12 | Reversal Month End Term Loan Accruals. |
| J20 | 1-Mar-12 | Final Principal + Interest Settlement on Term Loan |
J1 Settlement of Term Loan
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/001 | 28-Sep-11 | B | Cash at Bank | USD | 270,000,000.00 | 1.234300 | SGD | 333,261,000.00 | J1a |
| TML1001/001 | 28-Sep-11 | B | TML -Borrowing | USD | -270,000,000.00 | 1.234300 | SGD | -333,261,000.00 | J1b |
Note J1a: The exchange rate on 28-Sep-2011 is 1.2343. See Exchange Rates below.
J2 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 30-Sep-11 | P | TML - Borrowing - Interest Expense | USD | 126,875.03 | 1.234300 | SGD | 156,601.85 | J2a |
| TML1001 | 30-Sep-11 | B | TML - Borrowing - Interest Payable | USD | -126,875.03 | 1.234300 | SGD | -156,601.85 | J2b |
| TML1001 | 30-Sep-11 | P | FX - Unrealised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | 0.00 | J2c |
| TML1001 | 30-Sep-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 0.00 | J2d |
| TML1001 | 30-Sep-11 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 0.00 | J2e |
Note J2a: The average multiplier rate between 28-Sep and 30-Sep is 1.2343. See Exchange Rates below.
Note J2b: Calculation of Accrual in USD
| Outstanding Principal | 270,000,000.00 | A |
| Interest Rate | 5.63889% | B |
| Start Date | 28-Sep-11 | |
| Month End Date | 30-Sep-11 | |
| Days (include 30-Sep) | 3 | C |
| Accrual Method | Act/360 | D |
| Period Interest | 126,875.03 | E = A * B * C / D |
Note J2c: The unrealised foreign exchange gain/loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 126,875.03 | 1.234300 | 156,601.85 |
| At Average Rate | 126,875.03 | 1.234300 | 156,601.85 |
| Gain/Loss in exchange | 0.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J2e: The unrealised gain/loss on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Date | 270,000,000.00 | 1.234300 | 333,261,000.00 |
| At Start Date | 270,000,000.00 | 1.234300 | 333,261,000.00 |
| Gain/Loss in exchange | 0.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J3 Reversal Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 1-Oct-11 | P | TML - Borrowing - Interest Expense | USD | -126,875.03 | 1.234300 | SGD | -156,601.85 | J3a |
| TML1001 | 1-Oct-11 | B | TML - Borrowing - Interest Payable | USD | 126,875.03 | 1.234300 | SGD | 156,601.85 | J3b |
| TML1001 | 1-Oct-11 | P | FX - Unrealised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | 0.00 | J3c |
| TML1001 | 1-Oct-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 0.00 | J3d |
| TML1001 | 1-Oct-11 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 0.00 | J3e |
J4 Interest Capitalisation
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/002 | 1-Oct-11 | B | TML - Borrowing | USD | -126,875.03 | 1.234300 | SGD | -156,601.85 | J4a |
| TML1001/002 | 1-Oct-11 | P | TML - Borrowing - Interest Expense | USD | 126,875.03 | 1.234300 | SGD | 156,601.85 | J4b |
| TML1001/002 | 1-Oct-11 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 0.00 | J4c |
Note J4a: The average multiplier rate between 28-Sep and 1-Oct is 1.2343. See Exchange Rates below.
Note J4c: The realised foreign exchange gain/loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 126,875.03 | 1.234300 | 156,601.85 |
| At Average Rate | 126,875.03 | 1.234300 | 156,601.85 |
| Gain/Loss in exchange | 0.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J5 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 31-Oct-11 | P | TML - Borrowing - Interest Expense | USD | 1,311,916.19 | 1.295335 | SGD | 1,699,371.59 | J5a |
| TML1001 | 31-Oct-11 | B | TML - Borrowing - Interest Payable | USD | -1,311,916.19 | 1.345600 | SGD | -1,765,314.43 | J5b |
| TML1001 | 31-Oct-11 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 65,942.84 | J5c |
| TML1001 | 31-Oct-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | -30,065,121.19 | J5d |
| TML1001 | 31-Oct-11 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 30,065,121.19 | J5e |
Note J5a: The average multiplier rate between 1-Oct and 31-Oct is 1.295335. See Exchange Rates below.
Note J5b: Calculation of Accrual in USD
Period Interest from 1-Oct to 31-Oct
| Outstanding Principal | 270,126,875.03 | A |
| Interest Rate | 5.640000% | B |
| Start Date | 1-Oct-11 | |
| To Date (Month End) | 31-Oct-11 | |
| Days (include 31-Oct) | 31 | C |
| Accrual Method | Act/360 | D |
| Period Interest | 1,311,916.19 | E = A * B * C / D |
Note J5c: The unrealised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,311,916.19 | 1.345600 | 1,765,314.43 |
| At Average Rate | 1,311,916.19 | 1.295335 | 1,699,371.59 |
| Loss in exchange | -65,942.84 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J5e: The unrealised loss on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 270,126,875.03 | 1.345600 | 363,482,723.04 |
| At Start Date | 126,875.03 | 1.234300 | 156,601.85 |
| At Start Date | 270,000,000.00 | 1.234300 | 333,261,000.00 |
| Loss in exchange | -30,065,121.19 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J6 Reversal Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 1-Nov-11 | P | TML - Borrowing - Interest Expense | USD | -1,311,916.19 | 1.295335 | SGD | -1,699,371.59 | J6a |
| TML1001 | 1-Nov-11 | B | TML - Borrowing - Interest Payable | USD | 1,311,916.19 | 1.345600 | SGD | 1,765,314.43 | J6b |
| TML1001 | 1-Nov-11 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | -65,942.84 | J6c |
| TML1001 | 1-Nov-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 30,065,121.19 | J6d |
| TML1001 | 1-Nov-11 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | -30,065,121.19 | J6e |
J7 Interest Capitalisation
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/003 | 1-Nov-11 | B | TML - Borrowing | USD | -1,311,916.19 | 1.345600 | SGD | -1,765,314.43 | J7a |
| TML1001/003 | 1-Nov-11 | P | TML - Borrowing - Interest Expense | USD | 1,311,916.19 | 1.295335 | SGD | 1,699,371.59 | J7b |
| TML1001/003 | 1-Nov-11 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 65,942.84 | J7c |
Note J7b: The average multiplier rate between 1-Oct and 1-Nov is 1.295335. See Exchange Rates below.
Note J7c: The realised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,311,916.19 | 1.345600 | 1,765,314.43 |
| At Average Rate | 1,311,916.19 | 1.295335 | 1,699,371.59 |
| Loss in exchange | -65,942.84 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J8 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 30-Nov-11 | P | TML - Borrowing - Interest Expense | USD | 1,276,956.65 | 1.227109 | SGD | 1,566,965.42 | J8a |
| TML1001 | 30-Nov-11 | B | TML - Borrowing - Interest Payable | USD | -1,276,956.65 | 1.123430 | SGD | -1,434,571.41 | J8b |
| TML1001 | 30-Nov-11 | P | FX - Unrealised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | -132,394.01 | J8c |
| TML1001 | 30-Nov-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 30,240,435.06 | J8d |
| TML1001 | 30-Nov-11 | P | FX - Unrealised Gains - Capital | USD | 0.00 | 0.000000 | SGD | -30,240,435.06 | J8e |
Note J8a: The average multiplier rate between 1-Nov and 30-Nov is 1.227109. See Exchange Rates below.
Note J8b: Calculation of Accrual in USD
Period Interest from 1-Nov to 30-Nov
| Outstanding Principal | 271,438,791.22 | A |
| Interest Rate | 5.64528% | B |
| Start Date | 1-Nov-11 | |
| To Date (Month End) | 30-Nov-11 | |
| Days (include 31-Nov) | 30 | C |
| Accrual Method | Act/360 | D |
| Period Interest | 1,276,956.65 | E = A * B * C / D |
Note J8c: The unrealised foreign exchange gain on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,276,956.65 | 1.123430 | 1,434,571.41 |
| At Average Rate | 1,276,956.65 | 1.227109 | 1,566,965.42 |
| Gain in exchange | 132,394.01 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J8e: The unrealised gain on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 271,438,791.22 | 1.123430 | 304,942,481.22 |
| At Start Date | 1,311,916.19 | 1.345600 | 1,765,314.43 |
| At Start Date | 126,875.03 | 1.234300 | 156,601.85 |
| At Start Date | 270,000,000.00 | 1.234300 | 333,261,000.00 |
| Gain in exchange | 30,240,435.06 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J9 Reversal Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 1-Dec-11 | P | TML - Borrowing - Interest Expense | USD | -1,276,956.65 | 1.227109 | SGD | -1,566,965.42 | J9a |
| TML1001 | 1-Dec-11 | B | TML - Borrowing - Interest Payable | USD | 1,276,956.65 | 1.123430 | SGD | 1,434,571.41 | J9b |
| TML1001 | 1-Dec-11 | P | FX - Unrealised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | 132,394.01 | J9c |
| TML1001 | 1-Dec-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | -30,240,435.06 | J9d |
| TML1001 | 1-Dec-11 | P | FX - Unrealised Gains - Capital | USD | 0.00 | 0.000000 | SGD | 30,240,435.06 | J9e |
J10 Interest Capitalisation
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/004 | 1-Dec-11 | B | TML - Borrowing | USD | -1,276,956.65 | 1.123430 | SGD | -1,434,571.41 | J10a |
| TML1001/004 | 1-Dec-11 | P | TML - Borrowing - Interest Expense | USD | 1,276,956.65 | 1.227109 | SGD | 1,566,965.42 | J10b |
| TML1001/004 | 1-Dec-11 | P | FX - Realised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | -132,394.01 | J10c |
Note J10b: The average multiplier rate between 1-Nov and 1-Dec is 1.227109. See Exchange Rates below.
Note J10c: The realised foreign exchange gain on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,276,956.65 | 1.123430 | 1,434,571.41 |
| At Average Rate | 1,276,956.65 | 1.227109 | 1,566,965.42 |
| Gain in exchange | 132,394.01 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J11 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 31-Dec-11 | P | TML - Borrowing - Interest Expense | USD | 1,331,872.81 | 1.184186 | SGD | 1,577,184.88 | J11a |
| TML1001 | 31-Dec-11 | B | TML - Borrowing - Interest Payable | USD | -1,331,872.81 | 1.234220 | SGD | -1,643,824.06 | J11b |
| TML1001 | 31-Dec-11 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 66,639.18 | J11c |
| TML1001 | 31-Dec-11 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 26,257.35 | J11d |
| TML1001 | 31-Dec-11 | P | FX - Unrealised Gains - Capital | USD | 0.00 | 0.000000 | SGD | -26,257.35 | J11e |
Note J11a: The average multiplier rate between 1-Dec and 31-Dec is 1.184186. See Exchange Rates below.
Note J11b: Calculation of Accrual in USD
Period Interest from 1-Dec to 31-Dec
| Outstanding Principal | 272,715,747.87 | A |
| Interest Rate | 5.67144% | B |
| Start Date | 1-Dec-11 | |
| To Date (Month End) | 31-Dec-11 | |
| Days (include 31-Dec) | 31 | C |
| Accrual Method | Act/360 | D |
| Period Interest | 1,331,872.81 | E = A * B * C / D |
Note J11c: The unrealised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,331,872.81 | 1.234220 | 1,643,824.06 |
| At Average Rate | 1,331,872.81 | 1.184186 | 1,577,184.88 |
| Loss in exchange | -66,639.18 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J11e: The unrealised gain on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 272,715,747.87 | 1.234220 | 336,591,230.34 |
| At Start Date | 1,276,956.65 | 1.123430 | 1,434,571.41 |
| At Start Date | 1,311,916.19 | 1.345600 | 1,765,314.43 |
| At Start Date | 126,875.03 | 1.234300 | 156,601.85 |
| At Start Date | 270,000,000.00 | 1.234300 | 333,261,000.00 |
| Gain in exchange | 26,257.35 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J12 Reversal Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 1-Jan-12 | P | TML - Borrowing - Interest Expense | USD | -1,331,872.81 | 1.184186 | SGD | -1,577,184.88 | J12a |
| TML1001 | 1-Jan-12 | B | TML - Borrowing - Interest Payable | USD | 1,331,872.81 | 1.234220 | SGD | 1,643,824.06 | J12b |
| TML1001 | 1-Jan-12 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | -66,639.18 | J12c |
| TML1001 | 1-Jan-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | -26,257.35 | J12d |
| TML1001 | 1-Jan-12 | P | FX - Unrealised Gains - Capital | USD | 0.00 | 0.000000 | SGD | 26,257.35 | J12e |
J13 Principal and Interest Settlement of Term Loan
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/005 | 1-Jan-12 | B | TML - Borrowing | USD | 2,715,747.87 | 1.235935 | SGD | 3,356,487.69 | J13a |
| TML1001/005 | 1-Jan-12 | P | TML - Borrowing - Interest Expense | USD | 1,331,872.81 | 1.184186 | SGD | 1,577,184.88 | J13b |
| TML1001/005 | 1-Jan-12 | B | Cash at Bank | USD | -4,047,620.68 | 1.234220 | SGD | -4,995,654.40 | J13c |
| TML1001/005 | 1-Jan-12 | P | FX - Realised Gain - Capital | USD | 0.00 | 0.000000 | SGD | -4,657.35 | J13d |
| TML1001/005 | 1-Jan-12 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 66,639.18 | J13e |
Note J13b: The average multiplier rate between 1-Dec and 1-Jan is 1.184186. See Exchange Rates below.
Note J13d: The realised gain on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 2,715,747.87 | 1.234220 | 3,351,830.34 |
| At Start Date | 1,276,956.65 | 1.123430 | 1,434,571.41 |
| At Start Date | 1,311,916.19 | 1.345600 | 1,765,314.43 |
| At Start Date | 126,875.03 | 1.234300 | 156,601.85 |
| Gain in exchange | 4,657.35 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J13e: The realised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,331,872.81 | 1.234220 | 1,643,824.06 |
| At Average Rate | 1,331,872.81 | 1.184186 | 1,577,184.88 |
| Loss in exchange | -66,639.18 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J14 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 31-Jan-12 | P | TML - Borrowing - Interest Expense | USD | 1,324,157.25 | 1.204541 | SGD | 1,595,002.08 | J14a |
| TML1001 | 31-Jan-12 | B | TML - Borrowing - Interest Payable | USD | -1,324,157.25 | 1.192400 | SGD | -1,578,925.10 | J14b |
| TML1001 | 31-Jan-12 | P | FX - Unrealised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | -16,076.98 | J14c |
| TML1001 | 31-Jan-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 11,313,000.00 | J14d |
| TML1001 | 31-Jan-12 | P | FX - Unrealised Gains - Capital | USD | 0.00 | 0.000000 | SGD | -11,313,000.00 | J14e |
Note J14a: The average multiplier rate between 1-Jan and 31-Jan is 1.204541. See Exchange Rates below.
Note J14b: Calculation of Accrual in USD
Period Interest from 1-Jan to 31-Jan
| Outstanding Principal | 270,000,000.00 | A |
| Interest Rate | 5.69530% | B |
| Start Date | 1-Jan-12 | |
| To Date (Month End) | 31-Jan-12 | |
| Days (include 31-Jan) | 31 | C |
| Accrual Method | Act/360 | D |
| Period Interest | 1,324,157.25 | E = A * B * C / D |
Note J14c: The unrealised foreign exchange gain on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,324,157.25 | 1.192400 | 1,578,925.10 |
| At Average Rate | 1,324,157.25 | 1.204541 | 1,595,002.08 |
| Gain in exchange | 16,076.98 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J14e: The unrealised gain on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 270,000,000.00 | 1.192400 | 321,948,000.00 |
| At Start Date | 270,000,000.00 | 1.234300 | 333,261,000.00 |
| Gain in exchange | 11,313,000.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J15 Reversal Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 1-Feb-12 | P | TML - Borrowing - Interest Expense | USD | -1,324,157.25 | 1.204541 | SGD | -1,595,002.08 | J15a |
| TML1001 | 1-Feb-12 | B | TML - Borrowing - Interest Payable | USD | 1,324,157.25 | 1.192400 | SGD | 1,578,925.10 | J15b |
| TML1001 | 1-Feb-12 | P | FX - Unrealised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | 16,076.98 | J15c |
| TML1001 | 1-Feb-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | -11,313,000.00 | J15d |
| TML1001 | 1-Feb-12 | P | FX - Unrealised Gains - Capital | USD | 0.00 | 0.000000 | SGD | 11,313,000.00 | J15e |
J16 Principal Settlement and Interest Capitalisation on Term Loan
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/006 | 1-Feb-12 | B | TML - Borrowing | USD | -1,324,157.25 | 1.192400 | SGD | -1,578,925.10 | J16a |
| TML1001/006 | 1-Feb-12 | P | TML - Borrowing - Interest Expense | USD | 1,324,157.25 | 1.204541 | SGD | 1,595,002.08 | J16b |
| TML1001/006 | 1-Feb-12 | P | FX - Realised Gains - Revenue | USD | 0.00 | 0.000000 | SGD | -16,076.98 | J16c |
| TML1001/006 | 1-Feb-12 | P | FX - Realised Gains - Capital | USD | 0.00 | 0.000000 | SGD | -83,800.00 | J16d |
| TML1001/006 | 1-Feb-12 | B | TML -Borrowing | USD | 3,324,157.25 | 1.217609 | SGD | 4,047,525.10 | J16e |
| TML1001/006 | 1-Feb-12 | B | Cash at Bank | USD | -3,324,157.25 | 1.192400 | SGD | -3,963,725.10 | J16f |
Note J16b: The average multiplier rate between 1-Jan and 1-Feb is 1.204541. See Exchange Rates below.
Note J16c: The realised foreign exchange gain on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,324,157.25 | 1.192400 | 1,578,925.10 |
| At Average Rate | 1,324,157.25 | 1.204541 | 1,595,002.08 |
| Gain in exchange | 16,076.98 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J16d: The realised gain on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 3,324,157.25 | 1.192400 | 3,963,725.10 |
| At Start Date | 1,324,157.25 | 1.192400 | 1,578,925.10 |
| At Start Date | 2,000,000.00 | 1.234300 | 2,468,600.00 |
| Gain in exchange | 83,800.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J17 Additional drawdown and Interest Settlement on Term Loan
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/007 | 20-Feb-12 | B | Cash at Bank | USD | 9,194,431.46 | 1.432300 | SGD | 13,169,184.18 | J17a |
| TML1001/007 | 20-Feb-12 | B | TML - Borrowing | USD | -10,000,000.00 | 1.432300 | SGD | -14,323,000.00 | J17b |
| TML1001/007 | 20-Feb-12 | P | TML - Borrowing -Interest Expense | USD | 805,568.54 | 1.230279 | SGD | 991,074.02 | J17c |
| TML1001/007 | 20-Feb-12 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 162,741.80 | J17d |
Note J17a: The exchange rate on 20-Feb is 1.4323. See Exchange Rates below.
Note J17c: The average multiplier rate between 1-Feb and 20-Feb is 1.230279. See Exchange Rates below.
Note J17d: The realised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 805,568.54 | 1.432300 | 1,153,815.82 |
| At Average Rate | 805,568.54 | 1.230279 | 991,074.02 |
| Loss in exchange | -162,741.80 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J18 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 29-Feb-12 | P | TML - Borrowing - Interest Expense | USD | 439,803.72 | 1.434340 | SGD | 630,828.07 | J18a |
| TML1001 | 29-Feb-12 | B | TML - Borrowing - Interest Payable | USD | -439,803.72 | 1.452700 | SGD | -638,902.86 | J18b |
| TML1001 | 29-Feb-12 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 8,074.79 | J18c |
| TML1001 | 29-Feb-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | -58,735,200.00 | J18d |
| TML1001 | 29-Feb-12 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 58,735,200.00 | J18e |
Note J18a: The average multiplier rate between 20-Feb and 29-Feb is 1.43434. See Exchange Rates below.
Note J18b: Calculation of Accrual in USD
Period Interest from 20-Feb to 29-Feb
| Outstanding Principal | 278,000,000.00 | A |
| Interest Rate | 5.69530% | B |
| Start Date | 20-Feb-12 | |
| To Date (Month End) | 29-Feb-12 | |
| Days (include 29-Feb) | 10 | C |
| Accrual Method | Act/360 | D |
| Period Interest | 439,803.72 | E = A * B * C / D |
Note J18c: The unrealised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 439,803.72 | 1.452700 | 638,902.86 |
| At Average Rate | 439,803.72 | 1.434340 | 630,828,07 |
| Loss in exchange | -8,074.79 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J18e: The unrealised loss on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 278,000,000.00 | 1.452700 | 403,850,600.00 |
| At Start Date | 10,000,000.00 | 1.432300 | 14,323,000.00 |
| At Start Date | 268,000,000.00 | 1.234300 | 330,792,400.00 |
| Loss in exchange | -58,735,200.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J19 Reversal Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 1-Mar-12 | P | TML - Borrowing - Interest Expense | USD | -439,803.72 | 1.434340 | SGD | -630,828.07 | J19a |
| TML1001 | 1-Mar-12 | B | TML - Borrowing - Interest Payable | USD | 439,803.72 | 1.452700 | SGD | 638,902.86 | J19b |
| TML1001 | 1-Mar-12 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | -8,074.79 | J19c |
| TML1001 | 1-Mar-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 58,735,200.00 | J19d |
| TML1001 | 1-Mar-12 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | -58,735,200.00 | J19e |
J20 Final Principal + Interest Settlement on Term Loan
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/008 | 1-Mar-12 | B | TML - Borrowing | USD | 278,000,000.00 | 1.241422 | SGD | 345,115,400.00 | J20a |
| TML1001/008 | 1-Mar-12 | P | TML - Borrowing - Interest Expense | USD | 439,803.72 | 1.434340 | SGD | 630,828.07 | J20b |
| TML1001/008 | 1-Mar-12 | B | Cash at Bank | USD | -278,439,803.72 | 1.452700 | SGD | -404,489,502.86 | J20c |
| TML1001/008 | 1-Mar-12 | P | FX - Realised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 58,735,200.00 | J20d |
| TML1001/008 | 1-Mar-12 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 8,074.79 | J20e |
Note J20b: The average multiplier rate between 20-Feb and 1-Mar is 1.43434. See Exchange Rates below.
Note J20d: The realised loss on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 278,000,000.00 | 1.452700 | 403,850,600.00 |
| At Start Date | 10,000,000.00 | 1.432300 | 14,323,000.00 |
| At Start Date | 268,000,000.00 | 1.234300 | 330,792,400.00 |
| Loss in exchange | -58,735,200.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J20e: The realised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 439,803.72 | 1.452700 | 638,902.86 |
| At Average Rate | 439,803.72 | 1.434340 | 630,828.07 |
| Loss in exchange | -8,074.79 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
EXCHANGE RATES
Our illustration assumes the company uses different daily exchange rates for accounting.
Average rates are computed by using the multiplier rate from trade/transaction currency to the base currency each day and averaging this over the relevant period.
The following rates were used for this illustration.
Spot Rate
| Date | USD/SGD |
| 28-Sep-11 | 1.234300 |
| 30-Sep-11 | 1.234300 |
| 1-Oct-11 | 1.234300 |
| 31-Oct-11 | 1.345600 |
| 1-Nov-11 | 1.345600 |
| 30-Nov-11 | 1.123430 |
| 1-Dec-11 | 1.123430 |
| 31-Dec-11 | 1.234220 |
| 1-Jan-12 | 1.234220 |
| 31-Jan-12 | 1.192400 |
| 1-Feb-12 | 1.192400 |
| 20-Feb-12 | 1.432300 |
| 29-Feb-12 | 1.452700 |
| 1-Mar-12 | 1.452700 |
Average
| From Date | To Date | USD/SGD |
| 28-Sep-11 | 30-Sep-11 | 1.234300 |
| 28-Sep-11 | 1-Oct-11 | 1.234300 |
| 30-Sep-11 | 31-Oct-11 | 1.295335 |
| 1-Nov-11 | 30-Nov-11 | 1.227109 |
| 1-Dec-11 | 31-Dec-11 | 1.184186 |
| 1-Jan-12 | 31-Jan-12 | 1.204541 |
| 1-Feb-12 | 19-Feb-12 | 1.230279 |
| 20-Feb-12 | 29-Feb-12 | 1.434340 |
APPENDIX
| ID | Date | Description |
|---|---|---|
| J21 | 1-Jan-12 | Interest Settlement on Term Loan (Alternative to J13) |
| J22 | 1-Jan-12 | Principal Settlement on Term Loan (Alternative to J3) |
J21 Interest Settlement on Term Loan (Alternative to J13)
Note J21: Alternatively 1 – Repay Interest only (if only interest is paid, just FX Realised Revenue)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/005 | 1-Jan-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | 0.00 | J21a |
| TML1001/005 | 1-Jan-12 | P | TML - Borrowing - Interest Expense | USD | 1,331,872.81 | 1.184186 | SGD | 1,577,184.88 | J21b |
| TML1001/005 | 1-Jan-12 | B | Cash at Bank | USD | -1,331,872.81 | 1.234220 | SGD | -1,643,824.06 | J21c |
| TML1001/005 | 1-Jan-12 | P | FX - Realised Gains - Capital | USD | 0.00 | 0.000000 | SGD | 0.00 | J21d |
| TML1001/005 | 1-Jan-12 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 66,639.18 | J21e |
Note J21b: The average multiplier rate between 1-Dec and 1-Jan is 1.184186 See Exchange Rates below.
Note J21e: The realised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,331,872.81 | 1.234220 | 1,643,824.06 |
| At Average Rate | 1,331,872.81 | 1.184186 | 1,577,184.88 |
| Loss in exchange | -66,639.18 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J22 Principal Settlement on Term Loan (Alternative to J3)
Note J22: Alternatively 2 – Repay Principal only (if only principal is paid, just FX Realised Capital)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/005 | 1-Jan-12 | B | TML - Borrowing | USD | 2,715,747.87 | 1.235935 | SGD | 3,356,487.69 | J22a |
| TML1001/005 | 1-Jan-12 | P | TML - Borrowing - Interest Expense | USD | 0.00 | 1.184186 | SGD | 0.00 | J22b |
| TML1001/005 | 1-Jan-12 | B | Cash at Bank | USD | -2,715,747.87 | 1.234220 | SGD | -3,351,830.34 | J22c |
| TML1001/005 | 1-Jan-12 | P | FX - Realised Gains - Capital | USD | 0.00 | 0.000000 | SGD | -4,657.35 | J22d |
| TML1001/005 | 1-Jan-12 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 0.00 | J22e |
Note J22d: The realised gain on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 2,715,747.87 | 1.234220 | 3,351,830.34 |
| At Start Date | 1,276,956.65 | 1.123430 | 1,434,571.41 |
| At Start Date | 1,311,916.19 | 1.345600 | 1,765,314.43 |
| At Start Date | 126,875.03 | 1.234300 | 156,601.85 |
| Gain in exchange | 4,657.35 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
In the event there is a change in the outstanding principal, the system will pro-rate the next interest payment amount (1,246,000) between the different period. Below is the calculation how the prorating is done. Essentially the weight is based on outstanding principal, interest rate and the number of days in the period. See J23, J24 and J25 for example.
Repayment Schedule
| From Date | To Date | Activity | Rate | Principal | Int Capitalised | Interest | Outstanding |
|---|---|---|---|---|---|---|---|
| 28-Sep-11 | 28-Sep-11 | Drawdown | 5.638890% | 270,000,000.00 | 0.00 | 0.00 | 270,000,000.00 |
| 28-Sep-11 | 1-Oct-11 | Capitalise Int | 5.638890% | 0.00 | 126,875.03 | 0.00 | 270,126,875.03 |
| 1-Oct-11 | 1-Nov-11 | Capitalise Int | 5.640000% | 0.00 | 1,311,916.19 | 0.00 | 271,438,791.22 |
| 1-Nov-11 | 1-Dec-11 | Capitalise Int | 5.645280% | 0.00 | 1,276,956,65 | 0.00 | 272,715,747.87 |
| 1-Dec-11 | 1-Jan-12 | Repay P + I | 5.671440% | -2,715,747.87 | 0.00 | 1,331,872.81 | 270,000,000.00 |
| 1-Jan-12 | 1-Feb-12 | Repay P + Capitalise Int. | 5.695300% | -3,324,157.25 | 1,324,157.25 | 0.00 | 268,000,000.00 |
| 1-Feb-12 | 20-Feb-12 | Additional drawdown | 5.695300% | 10,000,000.00 | 0.00 | 0.00 | 278,000,000.00 |
| 20-Feb-12 | 1-Mar-12 | Final Repay | 5.695300% | -278,000,000.00 | 0.00 | 2,460,000.00 | 0.00 |
J23 Additional drawdown on Term Loan (Alternative to J17)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/007 | 20-Feb-12 | B | Cash at Bank | USD | 10,000,000.00 | 1.432300 | SGD | 14,323,000.00 | J23a |
| TML1001/007 | 20-Feb-12 | B | TML - Borrowing | USD | -10,000,000.00 | 1.432300 | SGD | -14,323,000.00 | J23b |
Note J23a: The exchange rate on 20-Feb is 1.4323. See Exchange Rates below.
J24 Month End Term Loan Accruals.
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001 | 29-Feb-12 | P | TML - Borrowing - Interest Expense | USD | 1,246,000.00 | 1.302343 | SGD | 1,622,719.62 | J24a |
| TML1001 | 29-Feb-12 | B | TML - Borrowing - Interest Payable | USD | -1,246,000.00 | 1.452700 | SGD | -1,810,064.20 | J24b |
| TML1001 | 29-Feb-12 | P | FX - Unrealised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 187,344.58 | J24c |
| TML1001 | 29-Feb-12 | B | TML - Borrowing | USD | 0.00 | 0.000000 | SGD | -58,735,200.00 | J24d |
| TML1001 | 29-Feb-12 | P | FX - Unrealised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 58,735,200.00 | J24e |
Note J24a: The average multiplier rate between 1-Feb and 29-Feb is 1.302343. See analysis below.
Calculation on prorating is analyzed as below
| Next Period Interest | 1,246,000.00 | A |
B | C | D | E | F | G | H = D * E * F | I = D * E * G | J = H / M * A | K | L |
| From Date | To Date | Notional P | Rate | Acc Days | Total Days | Acc Wt | Total Wt | Period Accrual (USD) | Avg Rate | Period Accrual (SGD) |
| 1-Feb-12 | 20-Feb-12 | 268,000,000.00 | 0.056953 | 19 | 19 | 290,004,676.00 | 290,004,676.00 | 805,974.59 | 1.230279 | 991,573.57 |
| 20-Feb-12 | 1-Mar-12 | 278,000,000.00 | 0.056953 | 10 | 10 | 158,329,340.00 | 158,329,340.00 | 440,025.41 | 1.434340 | 631,146.05 |
448,334,016.00 | 1,246,000.00 | 1.302343 | 1,622,719.62 |
|||||||
M |
Note J24c: The unrealised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,246,000.00 | 1.452700 | 1,810,064.20 |
| At Average Rate | 1,246,000.00 | 1.302343 | 1,622,719.62 |
| Loss in exchange | -187,344.58 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J24e: The unrealised loss on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 278,000,000.00 | 1.452700 | 403,850,600.00 |
| At Start Date | 10,000,000.00 | 1.432300 | 14,323,000.00 |
| At Start Date | 268,000,000.00 | 1.234300 | 330,792,400.00 |
| Loss in exchange | -58,735,200.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J25 Final Principal + Interest (Fixed) Settlement on Term Loan (Alternative to J20)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| TML1001/008 | 1-Mar-12 | B | TML - Borrowing | USD | 278,000,000.00 | 1.241422 | SGD | 345,115,400.00 | J25a |
| TML1001/008 | 1-Mar-12 | P | TML - Borrowing - Interest Expense | USD | 1,246,000.00 | 1.302343 | SGD | 1,622,719.62 | J25b |
| TML1001/008 | 1-Mar-12 | B | Cash at Bank | USD | -279,246,000.00 | 1.452700 | SGD | -405,660,664.20 | J25c |
| TML1001/008 | 1-Mar-12 | P | FX - Realised Losses - Capital | USD | 0.00 | 0.000000 | SGD | 58,735,200.00 | J25d |
| TML1001/008 | 1-Mar-12 | P | FX - Realised Losses - Revenue | USD | 0.00 | 0.000000 | SGD | 187,344.58 | J25e |
Note J25b: The average multiplier rate between 1-Feb and1-Mar is 1.302343. See Exchange Rates below.
Calculation on prorating is analyzed as below
| Next Period Interest | 1,246,000.00 | A |
B | C | D | E | F | G | H = D * E * F | I = D * E * G | J = H / M * A | K | L |
| From Date | To Date | Notional P | Rate | Acc Days | Total Days | Acc Wt | Total Wt | Period Accrual (USD) | Avg Rate | Period Accrual (SGD) |
| 1-Feb-12 | 20-Feb-12 | 268,000,000.00 | 0.056953 | 19 | 19 | 290,004,676.00 | 290,004,676.00 | 805,974.59 | 1.230279 | 991,573.57 |
| 20-Feb-12 | 1-Mar-12 | 278,000,000.00 | 0.056953 | 10 | 10 | 158,329,340.00 | 158,329,340.00 | 440,025.41 | 1.434340 | 631,146.05 |
448,334,016.00 | 1,246,000.00 | 1.302343 | 1,622,719.62 |
|||||||
M |
Note J25d: The unrealised loss on the revaluation of the loan is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 278,000,000.00 | 1.452700 | 403,850,600.00 |
| At Start Date | 10,000,000.00 | 1.432300 | 14,323,000.00 |
| At Start Date | 268,000,000.00 | 1.234300 | 330,792,400.00 |
| Loss in exchange | -58,735,200.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J25e: The unrealised foreign exchange loss on interest expense is analyzed as follows:
| USD | Rate+ | SGD |
|
| At Closing Rate | 1,246,000.00 | 1.452700 | 1,810,064.20 |
| At Average Rate | 1,246,000.00 | 1.302343 | 1,622,719.62 |
| Loss in exchange | -187,344.58 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
FREQUENTLY ASKED QUESTIONS
FAQ01. How does the system handle interest accruals at month end?
Interest accruals in CS Lucas system is reversing in nature. The interest computation at month end is always from the beginning of the trade or last interest payment date till to date. Interest accruals at month end is then reversed on the first day of the next open period.
CS Lucas system also does not have the concept of partial interest repayment. When interest is paid, all of it has to be paid. We view that if there is a partial payment of interest, then the unpaid amount must be capitalised. This follows general lending practice where all interest must be paid before repaying principal. What this means is that so long as an interest amount is paid (even 0.01), system would deem that ALL the interest to date is paid. Accrual will restart from 0 again. But if no interest is paid, when principal is paid, then the system will continue the accrual going forward.
RELATED INFORMATION
CHANGE HISTORY
| Date | By | Changes |
|---|---|---|
| 31-Jul-2008 | CS | Creation. |
| 14-Dec-2015 | TS | Rewritten. Reformatted. |
| 16-Jun-2016 | RJ | Reformatted. |
| 25-Oct-2017 | TS | Updated FAQ01. |
| 27-Apr-2020 | LT | Re-formatting. |
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