MKH Annual Report 2019

202 A N N U A L R E P O R T 2 0 1 9 29. LOANS AND BORROWINGS (CONT’D) Term loan VI of RM1,335,093 (30.9.2018 and 1.10.2017: RMNil) is part of the total term loan of RM10,000,000 and is repayable by 4 quarterly principal instalments of RM2,500,000 each with the first repayment to commence on 27th month following the date of first drawdown and is secured and supported as follows: (a) specific debenture over the project land of a subsidiary; (b) assignment over all applicable insurance policies; (c) assignment over designated accounts; and (d) corporate guarantee of the Company. Term loan VII of RMNil (30.9.2018: RMNil; 1.10.2017: RM384,253) is part of the total term loan of RM13,000,000 and is repayable by 5 quarterly principal instalments of RM2,167,000 each and final principal instalment of RM2,165,000 or any balance outstanding with the first repayment to commence on the 33rd month following the date of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credit VI of RMNil (30.9.2018: RM4,000,000; 1.10.2017: RMNil) is part of total revolving credit of RM5,000,000 and is repayable by 4 quarterly principal instalments of RM1,250,000 each with the first repayment to commence on 39th month following the date of first drawdown or payment by way of redemption whichever is earlier. The term loan and revolving credit are secured and supported as follows: (a) legal charge over the freehold land held for property development of a subsidiary; (b) specific debenture over the project land of a subsidiary; and (c) corporate guarantee of the Company Term loan VIII of RM13,121,570 (30.9.2018: RM4,843,597; 1.10.2017: RMNil) is part of the total term loan of RM55,000,000 and repayable by 9 quarterly principal instalments over 3 years commencing on the first day of the 30th month following the date of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credit VII of RM12,900,000 (30.9.2018: RM1,400,000; 1.10.2017: RMNil) is part of the total revolving credit of RM15,000,000 is repayable by 3 quarterly principal instalments of RM5,000,000 each over 2 years commencing on the first day of the 36th month following the date of first drawdown or payment by way of redemption whichever is earlier. The term loan and revolving credit are secured and supported as follows: (a) specific charge and assignment over all designated accounts to be opened with the bank of a subsidiary; (b) specific debenture by way of fixed and floating charge over all present of future assets in relation to the project of a subsidiary; and (c) corporate guarantee of the Company. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2019