Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 23. Loans and borrowings (cont'd) The remaining maturities of the loans and borrowings as at 31 December are as follows: 2020 2019 RM RM On demand or within one year 274,921,713 252,384,609 More than 1 year and less than 2 years 35,671,687 42,705,296 More than 2 years and less than 5 years 94,139,016 94,321,117 5 years and more 2,375,000 17,197,785 407,107,416 406,608,807 Hire purchase payables Bank overdrafts, bankers' acceptances, term loans and invoice financing The interest rates (per annum) at the reporting date were as follows: 2020 2019 % % Bank overdrafts 3.89 to 7.62 5.91 to 8.14 Bankers' acceptances 2.52 to 4.55 4.07 to 5.10 Term loans 4.30 to 5.92 5.20 to 6.70 Invoice financing 1.67 to 6.10 4.06 to 6.44 Revolving credit 3.29 to 5.50 4.66 to 5.77 (a) First party first legal charge over a parcel of leasehold land as disclosed in Note 12; (b) (c) Short term deposits as disclosed in Note 22; and (d) Corporate guarantee by the Company. 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% (2019: 1.68% to 4.06%) per annum. The bank overdrafts, bankers' acceptances, term loans, invoice financing and revolving credit together with bank guarantee facilities are secured by: First party first legal charge over certain land held for development, development properties and inventories as disclosed in Note 19 and Note 20; - 81 - Annual Report 2020 138 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020