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Asia Media Group Berhad
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Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
108
15. Short term borrowings
Group
2015
2014
RM
RM
Revolving credit
1,500,000 1,500,000
As at 31st December 2015, the Group has banking facility totaling RM5,000,000 (2014:
RM5,000,000) obtained from a licensed bank. The facility bears interest range from 3.23% to
3.94% (2014: 2.90% to 3.41%) per annum above the Bank Negara Malaysia’s funding rate and
is secured by the following:
(i) First party legal charge over properties owned by one of the Directors of the Company;
and
(ii) Corporate guarantee by the Company.
16. Revenue
Revenue of the Group and the Company represent the invoiced value of services rendered net
of discounts and allowances.