EXCEL FORCE MSC BERHAD Annual Report 2018

94 ANNUAL REPORT 2018 17. Loan and Borrowing Group and Company 2018 2017 RM RM Secured Floating rate Term loan - 4,240,002 Non-current liability Term loan - 3,258,894 Current liability Term loan - 981,108 - 4,240,002 Group and Company 2018 2017 RM RM Maturity of loan and borrowing Within 1 year - 981,108 Between 1 to 2 years - 981,108 Between 2 to 3 years - 981,108 Between 3 to 4 years - 981,108 Between 4 to 5 years - 315,570 - 4,240,002 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 14. 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. The term loan has been fully settled during the financial year upon disposal of long term leasehold land and building. Notes To The Financial Statements 31 December 2018 (cont’d)