Quasi Bhds financial year ends on 30 June. On 1 July 2014, Quasi Bhd acquired RM100 million bonds at a cost of RM85,600,000, inclusive of transaction costs. The bonds pay a fixed interest of RM5 million per annum and mature on 1 July 2018. On the date of purchase, the management of Quasi Bhd intended to hold the bonds and collect the contractual cash flows arising from them upon maturity. The effective interest rate of the bonds on 1 July 2014 was 8.67%.