BANK BORROWINGS
2008 |
|
2007 |
|
Secured:- |
RM |
|
RM |
|
|
|
|
Bank overdraft |
xxx,xxx |
|
xxx,xxx |
Revolving credit |
x,xxx,xxx |
|
x,xxx,xxx |
|
|
|
|
x,xxx,xxx |
|
x,xxx,xxx |
a. Bank Overdraft
The bank overdraft bore an interest rate of x% above the bank’s base lending rate.
Security:
i) 3rd Party 1st legal charge over the project land of the Company.
ii) Pledge of fixed deposit sum of not less than RMx million together with Memorandum of Deposit and Letter of Set-off duly executed and stamped.
iii) Personal guarantee by the directors of the Company.
b. Revolving credit
The revolving credit is secured by a legal charge over the freehold land and building of the Company and personal guaranteed by the directors of the Company.
The revolving credit bears effective interest at rates of x% per annum.