122
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
18. RESERVES (continued)
(c) Share options reserve
The share options reserve represents the equity-settled share options granted to employees. This reserve
is made up of the cumulative value of services received from employees recorded on the grant date
of share options.
19. BORROWINGS
Group
Company
2014
2013
2014
2013
Note RM
RM
RM
RM
Non-current liabilities
Term loans
20
6,685,325
-
-
-
Hire purchase creditors
21
4,630,590
366,050
214,901
322,515
11,315,915
366,050
214,901
322,515
Current liabilities
Term loans
20
6,398,203
-
-
-
Hire purchase creditors
21
1,751,678
608,174
107,614
129,107
Bankers’ acceptance
22 15,000,000
-
-
-
Islamic facility
22
6,000,000
-
-
-
29,149,881
608,174
107,614
129,107
Total borrowings
Term loans
20 13,083,528
-
-
-
Hire purchase creditors
21
6,382,268
974,224
322,515
451,622
Bankers’ acceptance
22 15,000,000
-
-
-
Islamic Facility
22
6,000,000
-
-
-
40,465,796
974,224
322,515
451,622
20. TERM LOANS
(a) The term loans of the Group and of the Company are secured by the following:
(i) fixed charge over the long term leasehold land and buildings of the Group and of the Company
as disclosed in Note 7 to the financial statements;
(ii) pledge of deposits with licensed banks of the Group and of the Company as disclosed in Note 16
to the financial statements; and
(iii) assignment of certain receivables of a subsidiary.
In addition, the term loans are guaranteed by the Company.
