MKH Annual Report 2018

179 MKH Berhad Annual Report 2018 28. LOANS AND BORROWINGS (Cont’d) Term loan XVII of RM4,453,936 (2017: RM4,576,379) is repayable in 300 monthly principal instalments of RM28,269 each, commencing November 2014 and is secured and supported as follows: (a) legal charge over the freehold buildings; (b) first party open monies deed of assignment; and (c) corporate guarantee of the Company. Term loan XVIII of RM3,561,274 (2017: RM6,561,274) is repayable by 84 monthly principal instalments commencing 19th month from the date of first drawdown or on 1 January 2014, whichever is earlier. The term loan is secured and supported as follows: (a) legal charge over the freehold land of a subsidiary; (b) a limited debenture by way of a fixed and floating charge over construction costs for a private and international school developed on the said freehold land; (c) legal assignment over a subsidiary and/or the customer’s rights and interest under an o er to lease and purchase; (d) legal assignment over all rents and other monies payables; and (e) corporate guarantee of the Company. Term loan XIX of RM5,312,056 (2017: RMNil) is repayable by 60 monthly instalments of RM100,000 each, commencing on 1st disbursement and is secured and supported as follows: (a) legal charge over the leasehold building of a subsidiary; (b) assignment of all rights, title and interest in respect of rental proceeds from leasehold building of subsidiary; and (c) corporate guarantee of the Company. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018