NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
18. RELATED PARTY TRANSACTIONS (CONTINUED)
2020
2019
Rs
Rs
208,780,214 14,895,546
Cap Tamarin Ltée
302,600
Le Poulet Fermier Ltée Trinidad Residence Ltee
10,770,659
718,697 224,972
718,696 29,153 52,500 38,500
Immobilier Conseil Engineering Ltee
53,130 39,130
Les Salazes ltee Anse Ally Ltee
301
Imagine Promotion Ltee
301
800
Riverloft ltee
800
239,100
Angie promotion Ltee
239,100
3,300
Integral Construction Entepreise Ltee
-
41,569,081 21,892,419 4,980,564 9,118,258 302,515,512
Sakoa Management Co Ltd
27,528,784 17,410,320
CCMIC Ltée
Mourouk Ebony Management Ltd
-
Trimetys Hospitality Limited
35,930
57,127,343
Related party transactions can be classified as follows: Management Fees due to Trimetys Ltd
10,155,214
762,600
292,359,998 302,515,212
Shareholder's Loan
56,364,743 57,127,343
Amount payable/ receivable to/from related parties are unsecured, interest free and will be settled as non-cash transactions with prior notice of 12 months.
19. SHAREHOLDER’S LOAN
THE GROUP
2020
2019
Rs
Rs
36,141,144 (3,746,643) 32,394,501
At 01 January
26,505,239 9,635,905 36,141,144
Movement during the year
At 31 December
The loan to shareholder is interest free with no fixed term of repayment and not repayable without prior notice of 12 months.
20. BORROWINGS
THE GROUP
2020
2019
Rs
Rs
473,657,388
Loan from Vantage
391,713,502
Secured loan payable
The capitalisation rate used to determine the amount of borrowing costs to be capitalised is the effective interest rate applicable to loan payable during the year, in this case 10.12% per annum and is repayable by the 30th June 2024. The loan is pledged by land held in inventory (note 9).
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