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b. Consolidated statements may be issued to show financial position as it would appear if two or more companies were one entity. 1. Discuss the
b. Consolidated statements may be issued to show financial position as it would appear if two or more companies were one entity. 1. Discuss the concept of consolidate statement i. From Answer (1) provide the Practise in islamic bank in Malaysia ii. What is the objective of these consolidated statements? d. For the Fiscal Year Ended December 31, 2021 XYZ berhad As discussed in preceding sub note (d), on January 31, 2022, a subsidiary of the Company announced an early redemption, effective February 28, 2022, of RM 550 million of Guaranteed Floating Rate Notes otherwise due May 2022. To partially refinance this redemption, the Company and two of its subsidiaries (the "Issuers") established a program under which the issuers may issue RM-commercial paper notes up to a maximum aggregate amount outstanding at any time of RM750 million or its equivalent in alternative currencies. The notes may have maturities ranging up to 364 days and will be senior unsecured obligations of the applicable issuer. Notes issued by subsidiary Issuers will be guaranteed by the Company. The notes may be issued at a discount or may bear fixed or floating rate interest or a coupon calculated by reference to an index or formula. In connection with these financing activities, the Company increased its short-term lines of credit from RM2.2 billion at December 30, 2021 to approximately RM2.6 billion, via a RM400 million unsecured 364-Day Credit Agreement effective January 31, 2022. The 364-Day Agreement contains customary covenants, warranties, and restrictions similar to those described herein for the Five-Year Credit Agreement. The facility is available for general corporate purposes, including commercial paper back-up. although the Company does not currently anticipate any usage under the facility. 1. Identify the event mention in the report above ii. Discuss the characteristics the event in (1) ii. Discuss the application of the event in (1) in islamic bank in Malaysia. Provide relevant example b. Consolidated statements may be issued to show financial position as it would appear if two or more companies were one entity. 1. Discuss the concept of consolidate statement i. From Answer (1) provide the Practise in islamic bank in Malaysia ii. What is the objective of these consolidated statements? d. For the Fiscal Year Ended December 31, 2021 XYZ berhad As discussed in preceding sub note (d), on January 31, 2022, a subsidiary of the Company announced an early redemption, effective February 28, 2022, of RM 550 million of Guaranteed Floating Rate Notes otherwise due May 2022. To partially refinance this redemption, the Company and two of its subsidiaries (the "Issuers") established a program under which the issuers may issue RM-commercial paper notes up to a maximum aggregate amount outstanding at any time of RM750 million or its equivalent in alternative currencies. The notes may have maturities ranging up to 364 days and will be senior unsecured obligations of the applicable issuer. Notes issued by subsidiary Issuers will be guaranteed by the Company. The notes may be issued at a discount or may bear fixed or floating rate interest or a coupon calculated by reference to an index or formula. In connection with these financing activities, the Company increased its short-term lines of credit from RM2.2 billion at December 30, 2021 to approximately RM2.6 billion, via a RM400 million unsecured 364-Day Credit Agreement effective January 31, 2022. The 364-Day Agreement contains customary covenants, warranties, and restrictions similar to those described herein for the Five-Year Credit Agreement. The facility is available for general corporate purposes, including commercial paper back-up. although the Company does not currently anticipate any usage under the facility. 1. Identify the event mention in the report above ii. Discuss the characteristics the event in (1) ii. Discuss the application of the event in (1) in islamic bank in Malaysia. Provide relevant example
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