Sunny Tew

NOTES TO THE FINANCIAL STATEMENTSFOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)12. Bank borrowingsThe GroupThe Company2007 2006 2007 2006$ $ $ $SecuredCurrent liabilities- Term loans 1,710,595 1,500,000 1,000,000 1,000,000- Term loans (reclassified from non-current liabilities*) - 2,650,000 - 2,650,0001,710,595 4,150,000 1,000,000 3,650,000Non-current liabilities- Term loans 3,178,291 2,012,182 1,650,000 -4,888,886 6,162,182 2,650,000 3,650,000UnsecuredCurrent liabilities- Trust receipts 119,651,575 99,525,686 113,220,911 89,608,247- Invoice financing 1,270,800 463,834 - -- Term loan - 16,000 - -- Convertible loan (reclassified from non-current liabilities*) - 9,939,729 - 9,939,729120,922,375 109,945,249 113,220,911 99,547,976Non-current liabilities- Term loan - 24,479 - -120,922,375 109,969,728 113,220,911 99,547,976Total 25,811,261 116,131,910 115,870,911 103,197,97674 HG METAL MANUFACTURING LIMITED ANNUAL REPORT 2007