EXCEL FORCE MSC BERHAD Annual Report 2017

90 16. Loan and Borrowing Group and Company 2017 2016 RM RM Secured Floating rate Term loan 4,240,002 5,221,110 Non-current liabilities Term loan 3,258,894 4,240,002 Current liabilities Term loan 981,108 981,108 4,240,002 5,221,110 Group and Company 2017 2016 RM RM Maturity of loan and borrowing Within 1 year 981,108 981,108 Between 1 to 2 years 981,108 981,108 Between 2 to 3 years 981,108 981,108 Between 3 to 4 years 981,108 981,108 Between 4 to 5 years 315,570 981,108 After 5 years - 315,570 4,240,002 5,221,110 The term loan of the Group and of the Company is secured by a first party charge over long term leasehold land and a building of the Group and of the Company as disclosed in Note 4(a) and 13. The term loan is repayable by 120 monthly instalments with the fixed amount of RM81,759 with effect from one month after the date of full release of the loan. The term loan of the Group and of the Company bears interest at BLR-2.40% based on the outstanding amount of the term loan after setting off against the available balance in the current account of the Group and of the Company maintained in the same licensed bank where the term loan was drawdown. 17. Deferred Tax Liabilities Group and Company 2017 2016 RM RM At 1 January 63,013 76,671 Recognised in profit or loss (8,592) (56,211) (Over)/Under provision in prior year (17,379) 42,553 At 31 December 37,042 63,013 Notes To The Financial Statements 31 December 2017 (cont’d)