Datasonic Group Berhad 144 Notes to the Financial Statements for the Financial Year Ended 31 March 2022 (Cont’d) 24. TERM LOANS (SECURED) (CONT’D) During the financial year, term loan 4 amounting to Nil (2021 - RM9,304,000) is secured by a negative pledge that imposes certain covenants on a subsidiary that has received the loan. The significant covenants of the term loan are as follows:- (i) The Company’s gearing shall not exceed 2.0 times during the subsistence of the financing facilities with the bank. (ii) DTSB shall remain the licensed holder for a customer’s contracts. The bank shall be notified in the event of termination or changes in the appointment by the contract awarder. 25. TERM FINANCING (SECURED) Group/Company 2022 2021 RM’000 RM’000 Current liabilities (Note 30) 1,398 1,355 Non-current liabilities (Note 23) 1,939 3,338 3,337 4,693 Details of the repayment terms are as follows:- Term Financing Number Of Monthly Instalments Monthly Instalment Amount Date Of Commencement Of Repayment Effective Interest Rate Group/Company Amount Outstanding 2022 2021 RM’000 RM’000 RM’000 1 120 126 1 July 2014 3.20% (2021 - 3.20%) 3,337 4,693 Term financing 1 is secured by a legal charge over a property of the Group and of the Company and is with floating rate of 3.20% (2021 - 3.20%) per annum.
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