MKH Annual Report 2019

206 A N N U A L R E P O R T 2 0 1 9 29. LOANS AND BORROWINGS (CONT’D) Secured bank overdraft II of RM3,315,044 (30.9.2018 and 1.10.2017: RMNil) is repayable on demand and is secured and supported as follows: (a) legal charge over the leasehold land and building of a subsidiary; (b) joint and secured guarantee of the directors of the subsidiary; and (c) corporate guarantee of the Company. Secured revolving credit XIV of RMNil (30.9.2018: RMNil; 1.10.2017: RM4,510,000) is rollover quarterly and repayable on demand. Bridging loan of RMNil (30.9.2018: RMNil; 1.10.2017: 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 of a subsidiary; and (c) corporate guarantee of the Company. Term loan XVIII of RMNil (30.9.2018: RMNil; 1.10.2017: RM5,317,922) 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 XIX of RMNil (30.9.2018: RMNil; 1.10.2017: RM5,000,000) is repayable by 8 quarterly instalments of RM625,000 each and commencing 13th month following the date of first drawdown and is 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 XX of RMNil (30.9.2018: RMNil; 1.10.2017: 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 XV of RMNil (30.9.2018: RMNil; 1.10.2017: 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. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2019