MKH BERHAD | ANNUAL REPORT 2023 237 33. LOANS AND BORROWINGS (CONT’D) (a) specific debenture on fixed and floating charge over all assets of the project of a subsidiary; (b) charge over designated account; and (c) corporate guarantee of the Company. Term loan III of RM16,772,435 (2022: RM8,810,662) is part of the total term loans of RM30,000,000 which is repayable by 8 quarterly principal instalments of RM3,750,000 each 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 credit VII of RM5,000,000 (2022: RM4,000,000) is part of the total revolving credits of RM10,000,000 and is repayable by 8 quarterly principal instalments of RM1,250,000 each or any balance outstanding with the first repayment to commence 33rd 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 on fixed and floating charge over all assets of the project of a subsidiary; (b) specific charge and assignment over designated accounts; and (c) corporate guarantee of the Company. Secured revolving credit VIII of RM15,000,000 (2022: RM18,000,000) is repayable on demand. The revolving credit is secured and is supported as follows: (a) legal charge over the leasehold land and building of a subsidiary; (b) legal assignment over debt service account; (c) legal assignment over all tenancy and rent agreements; (d) specific debenture on fixed and floating charge over the leasehold land and building of a subsidiary; (e) deed of subordinate in respect of shareholders advances and loans to the subsidiary; (f) legal assignment of all of the subsidiary’s present and future rights, title and benefits in and under such insurance policies procure in respect of the charge; and (g) corporate guarantee of the Company. Term loan IV of RM3,690,170 (2022: RM3,843,783) is repayable in 300 monthly principal instalments of RM25,857 each, commencing November 2014 and is secured and is 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. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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