16. Deferred Liabilities
Company
Group
1982
1981
1982
1981
$'000
$'000
$'000
$'000
Bank loans
Secured
32,576
5,942
32,576
5,942
Unsecured
10,916
14,155
10,916
14,155
Other loans due within five years
88,874
33,502
88,874
33,502
Exchange equalisation account (note 17) -
3,086
2,261
3,086
2,261
135,452
55,860
135,452
55,860
Less: Amount repayable within one year
included in current liabilities
51,727
27,795
51,727
27,795
83,725
28,065
83,725
28,065
The Company has executed a mortgage in favour of a bank charging K.M.L. No. 112 (and the extension thereto) and buildings erected thereon to secure general banking facilities granted to the Company.
Other loans are repayable in semi-annual instalments due within five years and bear interest at rates of 7.25% to 10% per annum.
17. Exchange Equalisation Account (Note 1{f})
Company
Group
$'000
$'000
Balance at 1st January, 1982
2,261
2,261
Add: Unrealised exchange differences arising during the year
1,342
1,342
3,603
3,603
Less: Exchange gains transferred to Profit & Loss Account
517
517
Balance at 31st December, 1982
3,086
3,086
18. Share Capital
Authorised:
1982
1981
$'000
$'000
150,000
150,000
150,000,000 ordinary shares of $1 each
Issued:
138,628,290 ordinary shares of $1 each fully paid 46,209,430 ordinary shares of $1 each 50 per cent paid
138,628
92,419
23,105
138,628
115,524
The second and final instalment of 1981 Rights Issue on 46,209,430 ordinary shares of $1 each at $0.50 per share was fully paid up during the year. As set out in the Rights Issue document, the share issue was for the purposes of the expansion programme for ferry vessels and property development.
18