MKH Annual Report 2017

28. LOANS AND BORROWINGS (continued) Term loan XIII of RM14,324,646 (2016: RM21,002,311) is repayable by 48 monthly principal instalments commencing from the 4th year following to the date of the first drawdown or payment by way of redemption, whichever is earlier and is secured and supported as follows: (a) specific debentures by way of fixed and floating charge for all present and future assets of the project; (b) deed of assignment over the rights under the joint development agreement; (c) legal assignment and charge over all sales proceed; and (d) corporate guarantee of the Company. Term loan XIV of RMNil (2016: RM3,312,464) is part of the total term loan of RM7,000,000 and is repayable by 5 quarterly principal instalments of RM1,167,000 each and final principal instalment of RM1,165,000 or any balance outstanding with the first repayment to commence on the 33rd month following the date of first drawdown or payment by way of redemption whichever is earlier. The term loan is secured and supported as follows: (a) legal charge over the freehold land held for property development of a subsidiary; (b) specific debenture over the project land; and (c) corporate guarantee of the Company. Term loan XV of RM384,253 (2016: RMNil) is part of the total term loan of RM13,000,000 and is repayable by 5 quarterly principal instalments of RM2,167,000 each and final principal instalment of RM2,165,000 or any balance outstanding with the first repayment to commence on the 33rd month following the date of first drawdown or payment by way of redemption whichever is earlier. The term loan is secured and supported as follows: (a) legal charge over the freehold land held for property development of a subsidiary; (b) specific debenture over the project land; and (c) corporate guarantee of the Company. Term loan XVI of RM16,945,952 (2016: RM24,878,172) is repayable in 12 quarterly principal instalments commencing 61st month from the day of first drawdown. Term loan XVII of RM14,827,708 (2016: RM14,512,267) is repayable in 12 quarterly principal instalments commencing 48th month from the day of first drawdown. The term loans are secured and supported as follows: (a) facility agreement and security sharing agreement; (b) legal charge over the oil palm plantation land of a subsidiary in Indonesia; (c) deed of fiduciary by way of fixed and floating charge over the oil palm plantation in Indonesia; (d) charge over a designated bank account of a subsidiary in Indonesia; (e) corporate guarantee of the Company; (f) pledge of 95% shares of a subsidiary; Notes to the Financial Statements For the Financial Year ended 30 September 2017 176 MKH Berhad • Annual Report 2017