On December 23, 2014, MYR2,300,000 (approximately $657,507) term loan was granted to the Company for the purchase of a four-story office with a repayment period of 240 months.

The term loan was secured by the title deed for the said property and guaranteed by directors of the Company. The term loan is subject to an interest charges at 2.10% per annum below the Bank’s Base Lending Rate (“BLR”) with daily rests. The BLR is currently at 6.85% for September 30, 2019.

On July 27, 2015, the Company made a drawdown of MYR2,300,000 (approx. $609,554) on the term loan. The repayment started effectively on September 1, 2015 with a fixed installment of MYR14,863.14 (approx. $3,561) for 240 installments.

The outstanding balance of the term loan is $442,770, of which $21,789 is due within one year and classified as short term, and $420,981 is due after one year, and has classified as long term.

Interest expenses were $18,143 and $18,804 for the nine months ended September 30, 2019 and 2018, respectively.

	September 30,		December 31,
	2019		2018
Repayable within 1 year.	$	21,789	$	21,090
Repayable within 2 year		22,825		22,094
Repayable within 3 year		23,906		23,145
Repayable within 4 year		25,011		24,236
Repayable within 5 year		26,161		25,352
Repayable after 5 year		323,078		377,584
Total Due from		442,770		493,501