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Annual Report 2016
ASIA MEDIA GROUP Berhad
109
Notes to the Financial Statements
(continued)
15. Short term borrowings
Group
2016
2015
RM
RM
Revolving credit
1,500,000 1,500,000
As at 31st December 2016, the Group has banking facility totaling RM5,000,000 (2015:
RM5,000,000) obtained from a licensed bank. The facility bears interest range from 3.39% to
4.38% (2015: 3.23% to 3.94%) 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.