MKH Annual Report 2018

176 MKH Berhad Annual Report 2018 28. LOANS AND BORROWINGS (Cont’d) Secured revolving credit VI of RMNil (2017: RM4,510,000) is rollover quarterly and repayable on demand. Bridging loan of RMNil (2017: RM6,306,911) 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. Term loan VI of RMNil (2017: RM5,317,922) 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 VII of RMNil (2017: RM5,000,000) 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 VIII of RMNil (2017: RM3,740,000) 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 VII of RMNil (2017: RM3,370,000) 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 designated 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 VIII of RMNil (2017: RM1,875,000) 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 RMNil (2017: RM1,987,551) 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. FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018 NOTES TO THE FINANCIAL STATEMENTS