Notes to the Financial Statements for the Financial Year Ended 30 September 2024 Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 273 33. LOANS AND BORROWINGS (CONT’D) The hire-purchase liabilities bear effective interest at rates ranging from 2.20% to 4.59% (2023: 2.20% to 4.59%) per annum. The term loans and revolving credits bear effective interest at rates ranging from 4.80% to 5.80% (2023: 4.40% to 5.45%) per annum. The bridging loan bears effective interest at 5.03% (2023: 5.02%) per annum. The bank overdrafts bear effective interest at rates ranging 7.32% to 7.95% (2023: 7.32% to 7.95%) per annum. The secured term loans, bridging loan and secured revolving credits of the Group amounting to RM217,987,830 (2023: RM197,973,767), which were obtained from licensed financial institutions, are secured by way of the following: (a) specific or legal charge over: I. the freehold land for property development of a subsidiary; II. the freehold buildings of a subsidiary; III. the leasehold land held for property development of a subsidiary; IV. the leasehold land and building of certain subsidiaries; V. the designated accounts; VI. the debt service account; VII. the oil palm plantation land of a subsidiary in Indonesia; (b) debenture or specific debenture by way/over of: I. the property project of a subsidiary; II. the fixed and floating charge over the land held for property development of a subsidiary; III. the fixed and floating charge over all assets of the project of certain subsidiaries; IV. the fixed and floating charge over the leasehold land and building of certain subsidiaries; V. the fixed and floating charge for monies owing or payable under the facilities and property project of a subsidiary; (c) assignment or legal assignment over: I. tenancy and rent agreements of a subsidiary; II. debt service account of a subsidiary; III. a subsidiary’s present and future rights, title and benefits in and under such insurance policies procure in respect of the charge; IV. rental proceeds from the investment property of a subsidiary; V. all rights, title and interest in respect of rental proceeds from a leasehold building; and VI. all applicable insurance policies of certain subsidiaries;
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