238 MKH BERHAD | ANNUAL REPORT 2023 33. LOANS AND BORROWINGS (CONT’D) Term loan V of RMNil (2022: RM416,305) is repayable by 60 monthly instalments of RM100,000 each, commencing on 1st month from date of disbursement and is secured and is 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; and (c) corporate guarantee of the Company. Secured revolving credit IX of RM35,273,000 (2022: RM35,273,000) is repayable on demand. The revolving credit is 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. Term loan VI of RM2,471,209 (2022: RM668,394) is part of the total term loans of RM20,000,000 which is repayable by 4 quarterly principal instalments of RM5,000,000 each or any balance outstanding 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 is supported as follows: (a) specific debenture over the property project; (b) assignment over all applicable insurance policies; (c) assignment over designated accounts; and (d) corporate guarantee of the Company. Term loan VII of RM6,944,448 (2022: RM3,940,656) is part of total term loans of RM15,000,000 which is repayable by 45 months principal commencing on 33rd 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) deposit of titles to the land held for property development of a subsidiary; (b) specific debenture over the property project; (c) deed of assignment or charge over all designated accounts to be maintained with the bank; (d) assignment over all applicable insurance policies; and (e) corporate guarantee of the Company. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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