Wah Seong Corporation Berhad Annual Report 2020

164 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 27 LOANS AND BORROWINGS Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Current Unsecured Revolving credits 500,644 468,219 126,759 152,217 Trade financing 119,068 167,458 - - Term loans 136,184 75,135 - - Fixed rate notes 19,054 19,324 - - 774,950 730,136 126,759 152,217 Non-current Unsecured Term loans 103,106 217,959 - - 878,056 948,095 126,759 152,217 The remaining maturities of the loans and borrowings are as follows: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Within 1 year 774,950 730,136 126,759 152,217 More than 1 year and less than 2 years 35,845 75,332 - - More than 2 years and less than 5 years 60,000 120,427 - - More than 5 years 7,261 22,200 - - 878,056 948,095 126,759 152,217 As at 31 December 2020 and 31 December 2019, there were no secured loans and borrowings held by the Group. During the financial year ended 31 December 2020, a particular loan and revolving credit facility of a subsidiary received an indulgence from meeting a financial covenant from the bank. The indulgence was obtained after the balance sheet date up to 31 December 2021. This resulted in the non-current portion of the loan amounting to RM52,552,000 being reclassified from non-current liabilities to current liabilities as at the balance sheet date.