MKH Annual Report 2019

201 M K H B e r h a d 29. LOANS AND BORROWINGS (CONT’D) Term loan III of RM26,059,530 (30.9.2018: RM30,178,625; 1.10.2017: RM50,000,000) is repayable by 16 quarterly principal instalments of RM3,125,000 each commencing April 2019 and is secured and supported as follows: (a) legal charge over leasehold land held for property development of a subsidiary; (b) joint and several guarantee of the directors of a subsidiary; and (c) corporate guarantee of the Company. Term loan IV of RM16,334,800 (30.9.2018: RM7,898,025; 1.10.2017: RMNil) is part of total term loan of RM27,500,000 and is repayable by 8 quarterly principal instalments of RM3,437,500 each and commencing 27 months from the date of the disbursement or by way of redemption whichever is earlier. Secured revolving credit IV of RM10,000,000 (30.9.2018: RM10,000,000; 1.10.2017: RMNil) is repayable by 4 quarterly principal instalments of RM2,500,000 each and commencing 39 months from the date of the disbursement. The term loan and revolving credit are secured and supported as follows: (a) legal charge over the leasehold land of a subsidiary; (b) specific debenture over the project land of a subsidiary; (c) assignment over all applicable insurance policies; (d) deed of assignment over designated accounts; and (e) corporate guarantee of the Company. Secured revolving credit V of RM20,000,000 (30.9.2018: RM20,000,000; 1.10.2017: RM20,000,000) and secured bank overdraft I of RMNil (30.9.2018: RM3,187,603; 1.10.2017: RMNil) 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. Term loan V of RMNil (30.9.2018: RM6,994,304; 1.10.2017: RM20,994,304) is repayable by 10 quarterly principal instalments of RM3,500,000 each commencing December 2016 and is secured and supported as follows: (a) legal charge over freehold land held for property development of a subsidiary; and (b) corporate guarantee of the Company. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2019