PRG Holdings Berhad Annual Report 2018

20. BORROWINGS (continued) Group Company 2018 2017 2018 2017 Note RM’000 RM’000 RM’000 RM’000 Total borrowings Secured: Term loans (a) 34,075 22,098 15,060 - Trade bills 3,097 4,105 - - Hire purchase creditors (b) 839 2,366 - - Bank overdraft 17(e) 8,582 - - - 46,593 28,569 15,060 - (a) Term loans of the Group with a total carrying amount of RM5,000,000 (2017: RM7,198,000) are secured by way of: (i) a charge over the leasehold land under development as disclosed in Note 16(d) to the financial statements; and (ii) deposits maintained in a designated Debt Service Reserve Account with a licensed bank as disclosed in Note 17(b) to the financial statements. The term loans of the Group with a total carrying amount of RM14,015,000 (2017: RM14,900,000), trade bills and bank overdraft of the Group are secured by a pledge over the Group’s freehold land, long-term leasehold land, buildings and certain plant and machinery with a total carrying amount of RM28,754,000 (2017: RM30,285,000) as disclosed in Note 7 to the financial statements. Term loan of the Company with a total carrying amount of RM15,060,000 (2017: Nil) is secured over 257,000,000 of shares of Furniweb Holdings Limited with the carrying amount of RM397,990,200. The term loans, trade bills and bank overdraft granted to the subsidiaries are guaranteed by the Company as disclosed in Note 23 to the financial statements. (b) Hire purchase creditors Group 2018 2017 RM’000 RM’000 Minimum hire purchase payments: - not later than one (1) year 643 1,301 - later than one (1) year but not later than five (5) years 237 1,236 Total minimum hire purchase payments 880 2,537 Less: Future interest charges (41) (171) Present value of hire purchase payments 839 2,366 Repayable as follows: Current liabilities - not later than one (1) year 613 1,184 Non-current liabilities - later than one (1) year but not later than five (5) years 226 1,182 839 2,366 The hire purchase liabilities are secured by assets acquired under hire purchase arrangements. 139 PRG HOLD I NGS BERHAD notes to the financial statements 31 December 2018 (continued)