MKH Annual Report 2019

205 M K H B e r h a d 29. LOANS AND BORROWINGS (CONT’D) Term loan XV of RM4,325,416 (30.9.2018: RM4,453,936; 1.10.2017: 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 of a subsidiary; (b) first party open monies deed of assignment; and (c) corporate guarantee of the Company. Term loan XVI of RM561,274 (30.9.2018: RM3,561,274; 1.10.2017: 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 offer to lease and purchase; (d) legal assignment over all rents and other monies payables; and (e) corporate guarantee of the Company. Term loan XVII of RM4,150,451 (30.9.2018: RM5,312,056; 1.10.2017: RMNil) is repayable by 60 monthly instalments of RM100,000 each, commencing on 1st month from date of 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. Secured revolving credit XII of RMNil (30.9.2018: RM10,277,977; 1.10.2017: RM20,251,028) is repayable by 18 quarterly principal instalments of RM2,500,000 each commencing December 2014. Secured revolving credit XIII of RM45,000,000 (30.9.2018: RM34,718,250; 1.10.2017: RM34,718,250) 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) specific debenture by way of fixed and floating charge over the leasehold land and building of a subsidiary; (c) legal assignment of rental proceeds from the investment property of a subsidiary; and (d) corporate guarantee of the Company. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2019