MKH Annual Report 2017

28. LOANS AND BORROWINGS (continued) Secured revolving credit VIII of RM1,875,000 (2016: RM9,375,000) is repayable by 8 quarterly principal instalments of RM1,875,000 each commencing on the 39th month from the date of first drawdown. Secured bank overdraft II of RM1,987,551 (2016: RM6,576,455) is repayable on demand. The revolving credit and bank overdraft are secured and supported as follows: (a) legal charge over leasehold land and building of a subsidiary; and (b) corporate guarantee of the Company. Secured revolving credit IX of RM4,510,000 (2016: RM4,510,000) is rollover quarterly and repayable on demand. Bridging loan of RM6,306,911 (2016: RMNil) is part of total loan of RM17,000,000 and is repayable by 4 quarterly principal instalments of RM4,250,000 or any balance outstanding with first repayment to commence upon expiry of availability period or on 28th month following the date of full drawdown or payment by way of redemption whichever is earlier. The revolving credit and bridging loan are secured and supported as follows: (a) specific debenture over the project land of a subsidiary; (b) legal charge over leasehold land held for property development; and (c) corporate guarantee of the Company. Secured revolving credit X of RM20,251,028 (2016: RM30,198,208) is part of the total revolving credit of RM45,000,000 and is repayable by 18 quarterly principal instalments of RM2,500,000 each commencing December 2014 and secured revolving credit XI of RM34,718,250 (2016: RM34,718,250) is part of the total revolving credit of RM40,000,000 and is repayable on demand. All revolving credits are secured and supported as follows: (a) legal charge over the leasehold land and building of a subsidiary; (b) corporate guarantee of the Company; (c) specific debenture by way of fixed and floating charge over the leasehold land and building of a subsidiary; and (d) legal assignment of rental proceeds from the investment property of a subsidiary. Unsecured term loan of RM3,000,000 (2016: RM15,000,000), Unsecured revolving credits of RMNil (2016: RM5,000,000) and Unsecured bank overdraft of RM508,170 (2016: RM1,427,698) of the Group is repayable on demand and is supported by corporate guarantee of the Company. Unsecured revolving credits of RM60,500,000 (2016: RM49,350,000) and Unsecured bank overdraft of RMNil (2016: RM4,350,721) of the Company are repayable on demand. Notes to the Financial Statements For the Financial Year ended 30 September 2017 178 MKH Berhad • Annual Report 2017