236 MKH BERHAD | ANNUAL REPORT 2023 33. LOANS AND BORROWINGS (CONT’D) Secured revolving credit I of RM49,444,000 (2022: RM49,444,000) is part of the total revolving credits of RM50,000,000 which is repayable by way of redemption upon the full settlement of secured revolving credit II. Secured revolving credit II of RMNil (2022: RM11,000,000) is part of the total revolving credits of RM110,000,000 which is repayable by 10 equal half yearly principal instalments of RM11,000,000 each over 8 years commencing on the first day of the 42nd month following the date of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credit III of RM25,000,000 (2022: RM45,000,000) is part of the total revolving credits of RM90,000,000 which is repayable by 18 equal quarterly principal instalments of RM5,000,000 each over 4½ year commencing on the first day of the 31st month following the date of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credit IV of RM8,000,000 (2022: RM4,000,000) is part of the total revolving credits of RM50,000,000 granted to the Company which is repayable by 29 monthly principal instalments of RM1,670,000 each over 2½ year commencing on the first day of the 43rd month following the date of first drawdown or payment by way of redemption whichever is earlier. The revolving credits are secured and are supported as follows: (a) legal charge over the freehold land for property development of subsidiaries; (b) debenture by way of fixed and floating charge over the land held for property development of subsidiaries; and (c) corporate guarantee of the Company. Secured revolving credit V of RM20,000,000 (2022: RM20,000,000) is repayable on demand. The revolving credit is secured and is 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 I of RMNil (2022: RM10,898,500) is part of the total term loans of RM28,000,000 and is repayable by 5 quarterly principal instalments of RM4,700,000 each and final payment of RM4,500,000 or any balance outstanding with the first repayment to commence on 33rd month following the date of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credits VI of RMNil (2022: RM3,750,000) is part of the total revolving credits of RM15,000,000 and is repayable by 4 quarterly principal instalments of RM3,750,000 each or any balance outstanding with the first repayment to commence 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 are supported as follows: (a) specific debenture over the project land of a subsidiary; (b) charge over the designated accounts; and (c) corporate guarantee of the Company. Term loan II of RM5,959,082 (2022: RM10,000,000) is part of the total term loans of RM25,500,000 which is repayable by 8 quarterly principal instalments of RM3,187,500 each or any balance outstanding with the first repayment to commence on 27th month following the date of first drawdown or payment by way of redemption whichever is earlier. Bridging loan of RM4,419,423 (2022: RMNil) is part of the total bridging loan of RM65,000,000 which is repayable by 8 quarterly principal instalments of RM8,125,000 each or any balance outstanding with the first repayment to commence on 27th month following the date of first drawdown or payment by way of redemption whichever is earlier. The term loan and bridging loan are secured and are supported as follows: NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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