SECTION 4: FINANCIAL PERFORMANCE 194Registration No: 199301009307 (264044-M) 56 16. BORROWINGS (CONT’D) The remaining maturities of the loans and borrowings as at 31 December are as follows:- The term loans are repayable by monthly instalments ranging from 60 to 180 (2022: 18 to 180) days, with amounts ranging from RM12,000 to RM126,000 (2022: RM12,000 to RM706,000). Bank borrowings of the Group are secured by:- (a) Registered open all monies 1st party charge over the Group’s freehold land and buildings; (b) Corporate guarantee by the Company; (c) Monthly sinking fund of RM50,000 up to total amount to be set aside of RM5,000,000; (d) Fixed deposits of the Group as disclosed in Note 13 to the consolidated financial statements. The interest rates on borrowings were as follows:- Group 2023 2022 % % Term loans 4.70 - 7.10 4.70 - 8.10 Trust receipts 4.67 - 6.46 2.64 - 6.46 Bankers’ acceptance 5.14 - 5.31 4.09 - 5.08 Bank overdraft 7.35 - 8.49 7.10 - 8.24 Invoice financing 5.23 - 6.15 3.25 - 6.15 Revolving loan 6.32 - 6.90 6.90 Group 2023 2022 RM’000 RM’000 On demand or within one year 41,153 45,713 More than 1 year and less than 2 years 2,727 3,108 More than 2 years and less than 5 years 7,808 6,480 5 years or more 6,983 5,890 17,518 15,478 58,671 61,191
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