149 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 25. BORROWINGS Group Company 2021 2020 2021 2020 RM RM RM RM Non-current liabilities Term loans 15,392,758 13,901,077 5,832,407 - Revolving loans - - - - 15,392,758 13,901,077 5,832,407 - Current liabilities Term loans 6,996,736 8,273,777 1,584,985 - Revolving loans 30,000,000 - 30,000,000 - 36,996,736 8,273,777 31,584,985 - Total borrowings Term loans 22,389,494 22,174,854 7,417,392 - Revolving loans 30,000,000 - 30,000,000 - 52,389,494 22,174,854 37,417,392 - (a) Borrowings are classified as financial liabilities and measured at amortised cost. (b) Term loans of the Group and of the Company are: (i) secured by legal charge and negative pledge on the long term leasehold land and buildings of the Group and the Company as disclosed in Notes 12 and 13 to the financial statements; and (ii) guaranteed by way of corporate guarantee by the Group and the Company. (c) Revolving loans of the Group and of the Company are: (i) secured by legal charge and negative pledge on the long term leasehold land and buildings of the Group and the Company as disclosed in Notes 12 and 13 to the financial statements; (ii) secured by first party charge over deposits with licensed banks as disclosed in Note 22 to the financial statements; and (iii) guaranteed by way of corporate guarantee by two (2) of its subsidiaries, e-pay (M) Sdn. Bhd. and Paysys (M) Sdn. Bhd.. (d) During the financial year, the Group obtained Islamic facility from a licensed bank which was secured by: (i) first party charge over deposits with licensed banks as disclosed in Note 22 to the financial statements; and (ii) guaranteed by way of corporate guarantee by the Group. The Islamic facility of the Group had been drawn down but fully repaid prior to the end of the financial year.
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