MKH Annual Report 2020

203 MKH BERHAD 32. LOANS AND BORROWINGS (CONT’D) Term loan II of RMNil (2019: RM26,059,530) 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 III of RMNil (2019: RM16,334,800) 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 RMNil (2019: RM10,000,000) 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 account to be maintained with bank; and (e) corporate guarantee of the Company. Secured revolving credit V of RM15,900,000 (2019: RM20,000,000) is repayable on demand. The revolving credit is 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 IV of RMNil (2019: RM1,335,093) 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 or by way of redemption whichever is earlier. The term loan 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. Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2020