GHL System Berhad Annual Report 2019

G H L S Y S T E M S B E R H A D 1 9 9 4 0 1 0 0 7 3 6 1 ( 2 9 3 0 4 0 - D ) 152 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 25. BORROWINGS Group Company 2019 2018 2019 2018 Note RM RM RM RM Non-current liabilities Term loans 19,623,774 10,694,120 - - Hire purchase creditors 26 - 5,629,173 - 160,458 Islamic facility - 500,000 - - 19,623,774 16,823,293 - 160,458 Current liabilities Term loans 6,080,445 11,408,396 - - Hire purchase creditors 26 - 4,436,172 - 69,523 Islamic facility 500,000 2,000,000 - - 6,580,445 17,844,568 - 69,523 Total borrowings Term loans 25,704,219 22,102,516 - - Hire purchase creditors 26 - 10,065,345 - 229,981 Islamic facility 500,000 2,500,000 - - 26,204,219 34,667,861 - 229,981 (a) Borrowings are classified as financial liabilities and measured at amortised cost. (b) Term loans of the Group are: (i) secured by legal charge and negative pledge on the long term leasehold land and buildings of the Group as disclosed in Note 12 and 13 to the financial statements; and (ii) guaranteed by way of corporate guarantee by the Group. (c) Islamic facility of the Group are: (i) secured by first party charge over deposits with licensed banks as disclosed in Note 22 to the financial statements; (ii) guaranteed by way of corporate guarantee by the Group.