Kimlun Corporation Berhad Annual Report 2019

Annual Report 2019 Kimlun Corporation Berhad NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2019 (cont’d) 134 23. Loans and borrowings Maturity 2019 2018 RM RM Current Secured: Bank overdrafts (Note 22) On demand 24,078,130 18,251,991 Bankers' acceptances 2020 57,648,874 63,068,000 Term loans 2020 16,336,735 15,748,272 Hire purchase payables (Note 32 (b)) 2020 24,302,363 26,524,012 Invoice financing 2020 114,075,606 58,612,549 Revolving credit 2020 15,942,901 10,942,901 252,384,609 193,147,725 Non-current Secured: Term loans 2021 - 2026 114,653,829 27,649,110 Hire purchase payables (Note 32 (b)) 2021 - 2026 39,570,369 52,356,936 154,224,198 80,006,046 Total loans and borrowings (Note 25) 406,608,807 273,153,771 The remaining maturities of the loans and borrowings as at 31 December are as follows: 2019 2018 RM RM On demand or within one year 252,384,609 193,147,725 More than 1 year and less than 2 years 42,705,296 32,075,655 More than 2 years and less than 5 years 94,321,117 44,941,472 5 years and more 17,197,785 2,988,919 406,608,807 273,153,771 Hire purchase payables Group Group These obligations are secured by a pledge over the leased assets (Note 12). The discount rate implicit in the leases is between 1.68% to 4.06% (2018: 1.68% to 3.77%) per annum.