Page 81 - JTC-Annual Report-2025-Eng
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JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)
(a) Term loans
2025 2024
Term loan borrowed from a local bank which carries effective
interest rate of 3.5% (2024: 3.5%) per annum. This loan is
repayable over half-yearly installments. The next installment
of KD 435,000 is due on June 15, 2026, and the final settlement
is due on December 15, 2029. 3,460,000 4,330,000
Term loan borrowed from a local bank which carries effective
interest rate of 3.5% per annum. This loan is repayable over
half-yearly installments. The next installment of KD 450,000 is
due on March 15, 2026, and final settlement is due on March
15, 2031. 5,687,816 -
9,147,816 4,330,000
Term loans are secured by the following collaterals:
2025 2024
Certain equipment included in “Property and equipment”
(Note 6) 9,870,164 5,664,564
Leasehold land included in “Property and equipment”
(Note 6) 8,529,410 7,828,000
Leasehold land included in “Investment properties” (Note 8) 4,182,340 3,837,000
The terms of the loan agreements require the Group to meet certain financial covenants.
There have been no breaches of the financial covenants of any interest-bearing loan during the
current year.
(b) During the year, the Group has fully settled its Murabaha payables amounting to KD 4,980,030.
78 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.
