PRG Holdings Berhad Annual Report 2019

PRG HOLDINGS BERHAD 154 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 23. BORROWINGS Group Company 2019 2018 2019 2018 Note RM’000 RM’000 RM’000 RM’000 Current liabilities Secured: Term loans (a) 11,130 15,433 8,411 15,060 Trade bills 1,020 3,097 - - Hire purchase creditors (b) - 613 - - Bank overdraft 20(e) 384 8,582 - - 12,534 27,725 8,411 15,060 Non-current liabilities Secured: Term loans (a) 20,465 18,642 - - Hire purchase creditors (b) - 226 - - 20,465 18,868 - - 32,999 46,593 8,411 15,060 Total borrowings Secured: Term loans (a) 31,595 34,075 8,411 15,060 Trade bills 1,020 3,097 - - Hire purchase creditors (b) - 839 - - Bank overdraft 20(e) 384 8,582 - - 32,999 46,593 8,411 15,060 (a) Term loans of the Group with a total carrying amount of RM7,600,000 (2018: RM5,000,000) are secured by way of: (i) a charge over the leasehold land under development as disclosed in Note 18(e) to the financial statements; and (ii) deposits maintained in a designated Debt Service Reserve Account with a licensed bank as disclosed in Note 20(a) to the financial statements. The term loans of the Group with a total carrying amount of RM13,591,000 (2018: RM14,015,000), trade bills and bank overdraft of the Group are secured by a pledge over the Group’s freehold land, long-term leasehold land, buildings and certain plant and machinery with a total carrying amount of RM16,225,000 (2018: RM28,754,000) as disclosed in Note 7(a) to the financial statements and the Group’s long-term leasehold land with a total carrying amount of RM5,114,000 (2018: nil) as disclosed in Note 8(a) to the financial statements. The term loans of the Group with a total carrying amount of RM1,993,000 (2018: nil) are secured by a pledge over the Group’s deposits placed with financial institutions of RM1,519,000 (2018: nil) as disclosed in Note 20(b) to the financial statements. Term loan of the Group and the Company with a total carrying amount of RM8,411,000 (2018: RM15,060,000) is secured over 285,600,000 (2018: 257,000,000) of shares of Furniweb Holdings Limited with the carrying amount of RM213,199,000 (2018: RM397,990,200). The term loans, trade bills and bank overdraft granted to the subsidiaries are guaranteed by the Company amounted to RM27,641,000 (2018: RM21,092,000) as disclosed in Note 28 to the financial statements.