MKH Annual Report 2017

28. LOANS AND BORROWINGS (continued) (g) assignment over all applicable insurance policies; and (h) negative pledge over a subsidiary’s assets. Term loan XVIII of RM5,317,922 (2016: RMNil) is part of the total term loan of RM10,000,000 and is repayable by 8 quarterly principal instalments of RM1,250,000 each with the first repayment to commence on 13th month following the date of first drawdown. Term loan XIX of RM5,000,000 (2016: RMNil) is repayable by 8 quarterly instalments of RM625,000 each and commencing 13th month following the date of first drawdown. The both term loans are secured and supported as follows: (a) legal charge over Housing Development Account and Project Account; (b) legal charge over the Financial Service Reserve Account; and (c) corporate guarantee of the Company. Term loan XX of RM3,740,000 (2016: RMNil) is part of total term loan of RM10,000,000 and is repayable by 5 quarterly principal instalments of RM1,667,000 each and a final payment of RM1,665,000 with the first repayment to commence on 21st month from the day of first drawdown. Secured revolving credit V of RM3,370,000 (2016: RMNil) is part of the total revolving credit of RM5,000,000 and is repayable by 6 quarterly repayment commencing 24th month from the day of first drawdown or by way of redemption whichever is earlier. The term loan and revolving credit are secured and supported as follows: (a) legal charge over designed account and the credit balances; (b) assignment over all applicable insurance policies; (c) facility agreement; and (d) corporate guarantee of the Company. Secured revolving credit VI of RM20,000,000 (2016: RM20,000,000) and secured bank overdraft I of RMNil (2016: RM3,645,095) are repayable on demand and are secured and supported as follows: (a) legal charge over the leasehold land held for property development of a subsidiary; and (b) corporate guarantee of the Company. Secured revolving credit VII of RMNil (2016: RM825,000) is repayable by 20 quarterly principal instalments of RM275,000 each commencing on 25 August 2012 and is secured and supported as follows: (a) legal charge over the leasehold land and building of a subsidiary; and (b) corporate guarantee of the Company. Notes to the Financial Statements For the Financial Year ended 30 September 2017 177 MKH Berhad • Annual Report 2017