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Master of Technology and Innovation Management (MTIM)

Semester 1, Session 2014/2015

MMJT 1023: BUSINESS PLANNING & ORGANIZING

Business Plan

Ready Cleaning Service

Nusaibah Roslan MMJ141005

Sharifah Radhiah Syed Azman MMJ141003

Lecturer: Mr Hiroyuki Ishizaki

Submission Date: 20 January 2015

1

Ready Cleaning Services

Business Plan

Lot 3/34 Jalan Haruan, Taman Oakland, Seremban.

06- 4355612 / 013-2482301

www.readycleaningservices.com

Nursaibah Roslan

013-36540408

ibah@readycleaning.com

2

Table of Content

No Contents Page

Table of Content 2

Executive Summary 3

1.0 Mission, Vision & Value Statement 4

1.1 Tagline 4

1.2 Company Logo 4

2.0 Market Overview 5

2.1 Market Needs 7

2.2 Market Trends 7

3.0 Product Service and Business Outline 8

3.1 Background of the Company 8

3.2 Service 8

3.3 Insurance 8

3.4 SWOT Analysis 9

4.0 Existing Players 10

5.0 Differentiation Strategy 11

6.0 Business Model 13

6.1 Price 13

7.0 Production (Process & Procurement) 14

7.1 Service Request Process 14

7.2 Residential Services Process 15

7.3 Laundry Services Process 15

8.0 Marketing & Sales 16

9.0 Management Team 17

9.1 Ready Cleaning Service Organizational Chart 18

9.2 Personnel Management 19

9.3 Job Specification 19

9.4 Schedule of Remuneration 20

10.0 Financial Projection 21

10.1 Marketing budget 21

10.2 Acquisition of Machinery and Equipment 21

10.3 Operation overhead 22

10.4 Balanced Sheet 23

10.5 Sales Forecast 24

10.6 Income Statement 24

11.0 Investment and Return 25

11.1 Table of loan repayment 25

References 26

3

Ready Cleaning Service

Executive Summary

Ready Cleaning Service is a startup residential cleaning service that aims to provide

customers with all residential cleaning services professionally, first class quality and with

convenient scheduling.

Services provided include cleaning of floors, windows, cabinets, dishes, laundry, furniture,

bedroom, and toilet. Besides residential cleaning, we also provide cleaning before or after

event; after they have thrown a party or when they are conducting an event.

The type of business is Private Ltd. and is owned by Nursaibah Roslan. Limited company is a

type of company which when set-up allows an entrepreneur to keep their own assets and

finances separate from the business itself.

Ready Cleaning Services target market is focusing in Seremban, Negeri Sembilan. Seremban

has the biggest number of house compared to others big cities in Negeri Sembilan which is

Port Dickson and Nilai. The market is growing due to increase of income per household. The

market is likely to maintain better than average growth due to the lifestyle of the people in

Seremban have developed within the decades, working longer and longer hours.

The effect of the longer work week is that people have less time to take care of the personal

maintenance responsibilities such as house cleaning. This service will save the customer time

and energy of doing the work. The customer has the benefit of enjoying a clean and attractive

home. The customer also has extra leisure time for entertaining guests, enjoying hobbies, or

any other activities.

The company will hire 13 staff with eight cleaners as the plan is to penetrate at least 10% of

the market in Seremban. The current market is 77 thousands household but the number are

expected to growth more than 20 thousand households. Each of staff has their own

responsiblities in order to keep the business running. Employees are vital components of

providing a professional, quality cleaning service; therefore, Ready Cleaning Services will

provide adequate pay to all employees.

For a start, the company may need of total RM 110 00 with debt financing of RM 50 000. The

loan proceeds will be utilized primarily in purchasing cleaning equipment & supplies, lease

payments, payroll, and additional working capital needs throughout the first year. Nursaibah

contributes her own money of RM 60 000. Ready Cleaning Services projects annual revenues

of RM 1,732,500 in Year 1 with operating expenses of RM 335,360.

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1.0 Mission, Vision & Value Statement

Mission

To provide customers with all residential cleaning services professionally, first class

quality and convenient scheduling.

Vision

To create a clean and sustainable environment domestically

To provide a service based company that exceeding customers expectation

To be the best cleaning service company in Malaysia

Value Statement

Commitment

- Fully committed staff to provide a service that will satisfy the customers need

Security & Safety

- Serve to the clients with their safety comes first, in terms of their belongings

Customer need

- Provide services that beyond customers need

1.1 Tagline

Ready to clean, ready to shine

1.2 Company Logo

5

2.0 Market Overview

The cleaning industry provides a critical service to both individuals and commercial enterprises.

It requires hard work, professionalism and an awareness of evolving technologies and

information. It emphasizes the positive results of properly done commercial cleaning, which

include providing a safe, healthy indoor environment for people to work and helping people

avoid symptoms and illnesses caused by an unhealthy environment.

Cleaning service companies are increasingly forced to adapt to clients changing needs in the

face of economic difficulties. The industry needs to respond to fundamental requirements of

the society such as cleanliness, hygiene and protection of the environment. It represents, in

economic and social terms, one of the most dynamic areas of corporate services.

Ready cleaning services market focus in Seremban, Negeri Sembilan. Seremban has the

biggest number of house compared to others big cities in Negeri Sembilan which is Port

Dickson and Nilai. The market is growing due to increase of income per household. The

market is likely to maintain better than average growth due to the lifestyle of the people in

Seremban have developed within the decades, working longer and longer hours. The effect

of the longer work week is that people have less time to take care of the personal maintenance

responsibilities such as house cleaning. Instead, people will work and longer hours and pay

someone to take care of other, less important or less desirable

2002 2004 2007 2009 2012

Negeri Sembilan Monthly Gross Household Income (RM)

2739 2886 3336 3540 4576

2739 28863336

3540

4576

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

2002 2004 2007 2009 2012

Negeri Sembilan Monthly Gross Household Income

Negeri Sembilan MonthlyGross Household Income

6

Seremban has the biggest number of households. the current market is 77 thousands

household but the number are expected to growth more than 20 thousand households.

Port Dickson Seremban Nilai

Total Household 23,336 77,367 43,715

Total Living Quarters 36120 96647 62792

36120

96,647

62,792

Total Living Quarters

Port Dickson

Seremban

Nilai

23,336

77,367

43,715

Total Household

Port Dickson

Seremban

Nilai

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2.1 Market Needs

Ready Cleaning Service is providing its customers with a professional, residential house

cleaning service, aimed at the upper echelon of the market. We seek to fulfil the following

benefits that are important to its customers.

Professionalism: All employees will be well trained to exude professionalism from all

of their actions and conversations.

Convenience: We will provide its services in the manner that is most convenient to

the customer, including arranging for visits when the owner is not home.

Trustworthiness: Many people have legitimate concerns regarding cleaning services

in their home and the possibility of theft and breakage. These concerns have been

eliminated or significantly reduced through a comprehensive screening and training

process for employees. Additionally, Ready carries insurance designed to cover any

loss that the customer may attribute to the company.

2.2 Market Trends

The market trend in house cleaning has shifted from individual service providers to companies.

Years ago, most families had a single housekeeper who was responsible for the cleaning of

their home(s). This individual was often considered a member of the family. Less and less

families these days are serviced by an individual housekeeper. The trend is moving toward

having a cleaning service come into the home weekly.

The residential cleaning demands are increasing due to dual income per household trend.

Nowadays, both spouses are working. The duration of working hour is about 45 hours per

week. They have tight schedule that they do not have enough time to maintain the house

cleanliness. When they are free from work, the time are used to rest, to spend with family or

going to holiday. They are less desire to spend the time to take care of personal maintenances

responsibility. Moreover, due to higher income, they are willing to pay someone to do the

maintenances for them.

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3.0 Product Service and Business Outline

3.1 Background of the Company

Name of Business Ready Cleaning Service

Business Address Lot 3/34 Jalan Haruan, Taman Oakland,

Seremban

Contact Number 06- 4355612 / 013-2482301

Type of Business Pvt. Ltd.

Main Activities Residential Cleaning Service

Initial Capital RM 100, 000

Since it is a startup company, the type of business is Private Ltd. and is owned by Nursaibah

Roslan. Limited company is a type of company which when set-up allows an entrepreneur to

keep their own assets and finances separate from the business itself. This means that people

who have invested in the business (the shareholders) are only responsible for any company

debts up-to the amount that they have invested and no more. It is therefore a good way for a

business to get investment without risk to a personal wealth.

3.2 Service

Ready Cleaning Service will provide a residential house cleaning service for the upper end of

the market. Services provided include cleaning of floors, windows, cabinets, dishes, laundry,

furniture, bedroom, and toilet. Besides residential cleaning, we also provide cleaning before

or after event; after they have thrown a party or when they are conducting an event.

This service will save the customer time and energy of doing the work. The customer has the

benefit of enjoying a clean and attractive home. The customer also has extra leisure time for

entertaining guests, enjoying hobbies, or any other activities.

3.3 Insurance

Since our service is high risk in terms of safety and security of the customers belonging, we

provide an insurance as assurance to the customers. In example if the employee accidentally

broke an expensive vase (which in the inevitable case that something is broken, RCS has

specific guidelines for the employee to follow to resolve the conflict) and pay the compensation.

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3.4 SWOT Analysis

The following SWOT analysis captures the key strengths and weaknesses within the company,

and describes the opportunities and threats facing by Ready Cleaning Service.

Strengths Opportunity

Commitment to quality service

Dedication to customer satisfaction

Value seen in its employees

Convenient service schedule

Owner experience in the hospitality

industry

New market with unlimited opportunities

Market is showing consistent high

growth

Current trends: Working spouse, tight

schedule

No dominant cleaning services in

Seremban

No laundry services in other cleaning

services company

Weakness Threat

Inherent time lag when building goodwill

and trust.

The difficulty of establishing brand equity

as a start-up company.

Limited resources

Low barriers for entry of competitors

Competitors may add Laundry service

in their line

Employee turnover

Residential Cleaning

Cleaning windows

Bedroom

Sanitation

Laundry Service

Washing

Drying

Ironing

Folding

Before/ After Event

Preparation before event

Clean up after party

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4.0 Existing Players

Features Merry Maids H20 Cleaning Ready cleaning

No of maid 2 1 2

Maid gender Female Female Female/ male

Office cleaning No Yes No

Residential

cleaning

Yes Yes Yes

Package One time

Weekly

Monthly

One time

Monthly

One time

Weekly

Monthly

Move in/out Yes Yes No

Before/ after event Yes Yes Yes

Vacuuming Yes No Yes

Staircase cleaning Yes No Yes

Laundry services No No Yes

Cleaning Product Yes No No

Promotion Website, FB,

Smartphone apps,

Magazine

Website, Flyers FB, flyers, brochure,

website

Price One time-350

Moving-350

Monthly-1400

One time-100

Monthly-380

Moving-150

One time-225

Monthly-850

Location All Malaysia Selangor Seremban

Currently there are two other main players in the cleaning service industry. However, we have

our own strength and market segmentation plus with our own differentiation.

Competitor Strength Weakness

Merry Maid High coverage Brand acknowledgment Sell cleaning product Huge marketing effort

Expensive No laundry service

H2O Cheap Offer office cleaning

Only in Selangor Take longer time to clean No vacuuming and staircase cleaning No laundry service

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5.0 Differentiation Strategy

Since the Ready Cleaning Service is not the pioneer of the cleaning service industry, we need

to have competitive edge that will make us different with the competitors.

1. Offering laundry service

While all the competitors are focusing on the cleaning, we RCS are happily to include

laundry service as part of our service. Mostly all household have laundry need to be

done and consume time. Sometimes there clothes that need separation and special

care, therefore all our employees are trained on how to do this tedious work.

Consequently our laundry service will help to ease their pain in washing, drying and

ironing. With the unpredictable weather forecast in Malaysia, RCS have a portable

dryer that easily dry the clothes and able to proceed with the folding.

2. Training of good employees

Our competitive advantage will be based on our large investment in human capital.

RCS begins with a rigorous training program for new employees. At the outset,

employees with be trained on how to clean. Granted everyone has some idea on how

to clean, but we will show them a methodical way producing a far cleaner home more

efficiently. We will then be training employees to work effectively on teams. While there

are some households that prefer individual cleaners instead of a team, a request that

we are more than happy to oblige, we generally work in teams as they are more

efficient. Working efficiently on a team takes training, and through this team training,

we are able to make significant gains in efficiency.

Figure 1 Portable Dryer Figure 2 Easy Top Folder

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3. Professionalism

We provide our employees the tools necessary to impress our most affluent clients.

Professionalism is a skill that is used throughout the service call, from the way the

employee greets and interacts with the client, to the way they clean, to the way they

act when unexpected thing happened. We finally train our employees to know what

the expectations of our clients are. We will provide them the tools needed to exceed

these expectations. There are times when clients request for female employees as

they think female work is more meticulous but with our well trained program, we can

ensure professionalism is our priority. We will also be creating the appearance of

professionalism through the use of uniforms and large magnetic sign affixed to the side

of the vehicles we use.

4. Environmentally sound chemicals products

Alongside with our vision which is to create a clean and sustainable environment

domestically; for our cleaning tools, we are using the environmentally sound

chemicals to keep both house and environment clean at the same time. Most of the

competitors did not mention what kind of cleaning products they use and therefore it is

an advantage to us.

5. Bond and Trust

With good service and extensive training, it enables to build trust relationship between

our company and the client. It is the bond of trust that will not only earn RCS the loyalty

of that customer but also the referral of several more of their friends. Happy customers

will spread the word of service providers that they are satisfied with. It is also part of

the viral marketing.

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6.0 Business Model

Ready Cleaning Services will provide solution for working people, event organizer and people

who did not have enough time. Our business model is to sell time to customers so they can

use the cleaning time for other important thing.

Ready Cleaning Services will strive to build a reputation as the best of the best. This reputation

and relationships formed with clients will help the business grow through referrals and maintain

existing contracts. Direct sales and referrals will be vital to success.

Customers can directly get information about our services through our official website. They

can request for services via online ordering and phone call. We also use indirect methods to

spread our services such as through flyers, social media and word of mouth.

Ready cleaning service offer referral rewards to our customer. The customer will receive a

10% discount on their next cleaning when they refer a potential client to us. We also conduct

Guest Satisfaction Survey to know which part of our service that needs to be improved.

6.1 Price

Flat/ Condominium

Single Storey Double Storey Bungalow

Per Room 35 50

Per Living Room 40 60

Per Kitchen 30 50

Per bathroom 25 30

Laundry (Per cycle = 7 Kg)

25

Total 225 * 450**

*Standard house (3 rooms & 2 bathrooms, 1 laundry cycle) ** Standard bungalow (4 rooms, 3 bathrooms, 2 laundry cycle

Company (Ready Cleaning Service)

Company website/ Phone call (Ready Cleaning Service)

Customers

working spouse

working individual

event organizer

Flyers

Facebook

Word of

mouth

14

7.0 Production (Process & Procurement)

PRODUCT DESCRIPTION PRODUCTION

Residential cleaning Train maid, vacuum, mop, broom,

soap/detergent

Laundry services Dryer, iron, washing machine,

soap/detergent

Marketing/ promotion Phone call, website, mobile apps

Software/ website Internet

After service Insurance/ compensation

1) Service Request Process

Customers call to our company or ordering online via official website

Brief the customers on the services available and discuss with them to

the price and services

Get agreement from customers and confirm the services.

Customer pay deposit

Deliver the products and gives services to the customers.

Customers make full the payment

15

2) Residential Services Process

Send employees to customers home.

Start cleaning living room, kitchen, bedroom and bathroom

Cleaning service complete

Site supervisor inspect the work from cleaners

Pick up employees

3) Laundry Services Process

Send employees to customers home

Weigh the laundry

Wash and dry the laundry

Folding and Ironing service

Service complete

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8.0 Marketing & Sales

The sales process will begin through the qualification of leads generated from our marketing

campaign as follows:

1. Website

Besides the FB page, a website is crucial for business these days. With the Goggling of

information is widespread, RCS must take this opportunity so whenever users Google

cleaning service, Ready Cleaning Service will on top of the research list. A good website

must have all the information needed by customers, thus we will ensure that our website

is user-friendly and have a complete information. The website address must also be put

on our flyers.

2. Flyers

The marketing campaign will primarily generate leads through interest sparked from our

pamphlet& flyers. Someone will call to receive more information about our service, while

we will be able to give them an estimate over the phone, we would prefer to be able to get

into their home and speak with them. On one hand we would be able to offer them a more

accurate estimate. More importantly however, it provides us an opportunity to impress

them with our company.

Figure 3 Sample of Ready Cleaning Service webpage

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3. Facebook

With the extensive usage of social media, Facebook is a good platform to boost income

and attract users. From the FB page, clients able to see directly what our business is all

about and they can also contact us via the comments or private message. From FB too,

the information is easily spread and good testimonial from satisfied customer will help to

attract new customers as the networking in FB is beyond imagination. We also provide

our FB page link in our flyers.

4. Magnetic Vehicle Sign

We used magnetic vehicle sign to be put on our van. While transporting workers to the

client home, other drivers on the road able to see our van and at the same time trigger

their interest of cleaning service. It is called passive marketing but effective.

5. Business Card

A business card is essential to make yourself known. In this company, the CEO and the

Operational Manager use business card to be distributed among clients. A business card

is a tool for networking as it is convenience and able to increase awareness to people

about our company and service.

6. Viral Marketing

Through the spread word of mouth from happy customers, we will also be able to increase

more clients because people naturally like to share good things with their friends.

Figure 4 Ready Cleaning Service Van

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9.0 Management Team

9.1 Ready Cleaning Service Organizational Chart

General Manager

Operational Manager Marketing/ IT Manager

Admin cum Finance

Clerk

Cleaners

Admin Manager

Site Supervisor/Driver

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9.2 Personnel Management

Since it is a startup company, the owner will oversee all the operational with help of few expert

especially in finance and IT. We will be paying our employees a competitive wages, quite a bit

more than minimum wage. This is calculated to attract a much higher caliber employee that is not

looking for temporary employment, but a stable job environment. This is compounded by the fact

that in order to make our training cost effective for us, we need this person to be a part of the

company for an extended period of time, not just a few months until a better job comes along.

In addition to paying an above market wage, we will be offering extensive training. This personal

development will be another attraction for the high caliber employee. The need for the higher

class employee is necessitated because of the upper end clients that we serve. In order to exceed

the customer's expectations of our services, we need to have the right employee that has been

properly trained and feels a sense of empowerment on the job.

As the target location and segmentation are people in Seremban, therefore we would like to hire

a local so it will be convenient to them and closer to their home. We will advertise our job hiring

via the local community place like 7 eleven, the Seremban UTC and also through the newspaper.

9.3 Job Specification

POSITION

MAIN TASK & RESPONSIBILITY

General Manager

To plan, implement, and control the overall management of the business.

To plan and monitor the strategic process of the business.

To be accountable for the overall performance of the business.

Approve the proposal.

Admin Manager

Update and maintain database with accurate client information.

Determine staffing requirements.

Hire and train new staff

To plan and oversee the accounting functions and financial resources.

To calculate the budget of the company.

To make forecast and accounts for the company.

Calculate the loss and profit gained.

Management of staffs salary payment, bonuses and incentive, EPF and SOCSO

20

Operation Manager

To be responsible for service, inventory, and quality control.

Make sure the operation of the company is run smoothly.

Supervising and motivating a team of workers.

Monitor and assist staff with work progress.

Marketing/IT Manager

Responsible in marketing strategies and campaign.

Develop and maintain the company website

Site Supervisor /Driver

Responsible in supervising the work done by cleaners

Responsible with the transportation for the cleaners

Provide direct and indirect assistance to the Operation Manager for inventories

Accountant cum Admin Clerk

Calculate the companys financial budget, payroll and taxes. Assist the Admin Manager

Responsible in maintaining the office

Cleaners

Responsible in cleaning of floors, windows, cabinets, dishes, laundry, furniture, bedroom, and toilet of the clients

Responsible to please all the clients and provide good image of the company.

9.4 Schedule of Remuneration

No

of

staff

RM per

worker

Monthly EPF

(11%)

SOCSO

(3%)

Total

amount

(RM)

Annual

General Manager 1 2000 2000 220 600 2820 33840

Admin Manager 1 1500 2000 165 600 2765 33180

Operational Manager 1 1500 1500 165 450 2115 25380

Marketing/IT Manager 1 1500 1600 165 480 2245 26940

Site supervisor/driver 1 1000 1000 110 300 1410 16920

Admin clerk 1 1000 1000 110 300 1410 16920

Cleaner 8 1000 8000 660 2400 11060 132720

Total 14 9500 17100 1595 5130 23825 285900

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10.0 Financial Projection

10.1 Marketing budget

ITEMS Price (RM)

Facebook ads 120

Flyers 4620

Magnetic vehicle sign 400

Website/blog 0

Total 5,140

10.2 Acquisition of Machinery and Equipment

a) List of Office Equipment and furniture

Items Cost/Unit (RM)

Quantity Total (RM)

Computer 2,200.00 3 6,600.00

Chair 100.00 15 1,500.00

Table 150.00 6 900.00

Meeting Table 300.00 1 300.00

Multifunction Laser Printer

950.00 1 950.00

Stationery 500.00 1 500.00

Air Conditioner 700.00 3 2,100.00

Display Board 100.00 3 300.00

Steel Locker 370.00 2 740.00

Wooden rack 200.00 1 200.00

Telephone line 100.00 1 100.00

Total 14,190

b) List of Cleaning supplies

Items Cost/unit (RM) Quantity Total (RM)

Toilet Bowl Brush and holder

7 5 35

Cleaning cloths 10 10 100

Window squeegee 4 5 20

Overhead dusting tools 5 5 25

Bowl cleaner 4 5 20

Detergent 70 2 140

Furniture polish for wood

35 5 175

Portable dryer 200 5 1000

Iron 50 5 250

22

Vacuum 200 5 1000

Garbage plastic bag 6 10 60

Pail 8 5 40

Mop 6 10 60

Broom 5 5 25

Weigh machine 50 5 250

Glove 5 3 15

Window cleaner tablets 5 5 25

Total 3,240

c) Office supplies

Items Price (RM)

Accessories/decoration 950

Business Card 450

Uniform 440

Total 1840

10.3 Operation overhead

ITEMS RM

Water and electricity 1,000.00

Telephone bills 1100.00

Repair and maintenance 3,500.00

Total 5,600.00

23

10.4 Balanced Sheet

Year 1 (RM)

ASSET

Current Assets:

Cash 40000

Inventory 3500

Prepaid Expenses 0

Notes Receivable 0

Total Current Assets 43500

Fixed Assets:

Office supplies 1840

Vehicles 55000

Furniture and Fixtures 2700

Equipment 11,490

Building 5400

Intangible asset (software) 300

Total Fixed Assets 74890

Total Assets 118,390

LIABILITY AND EQUITY

Current Liabilities:

Bank loan 50,000

Accounts Payable 8390

Total Current Liabilities 58390

Long-Term Liabilities: 0

Total Long-Term Liabilities 0

Total Liabilities 58390

Capital:

Owner's Equity 60,000

Total Capital 60,000

Total Liabilities and Capital 118,390

24

10.5 Sales Forecast

Total household: 77,000

Market penetration assumption: 10%

Revenue = 0.1x 77000 = 7700

10% bungalow = 770 x 450 = 346500

90% Semi D = 6930 x 225 = 1559250

Total revenue: 346500 + 1559250 = RM 1,905,750

COGS assumption: 10% of total revenue

10.6 Income Statement

Year 1

(RM)

Year 2

(RM)

Year 3

(RM)

Year 4

(RM)

Year 5

(RM)

Revenue 1,905,750 2001038 2201141 2421255 2784444

(-)Cost of goods sold 173250 181912.5 191008.1 200558.5 210586.5

Gross profit 1,732,500 1819125 2010133 2220697 2573857

(-) Sales and general

administrative

Rent and utilities 12000 12120 12241.2 12363.61 12487.25

Business license 270 270 270 270 270

Business registration 50 50 50 50 50

Depreciation 15200 15200 15200 15200 15200

Advertising 5140 5654 6219.4 6281.59 6344.41

Insurance 4800 4800 4800 4800 4800

Interest 12000 12000 12000 12000 12000

Salary 285900 300195 315204.8 330965 347513.2

Total expense 335360 350289 365985.4 381930.2 398664.9

(Loss)/Profit before tax 1,397,140 1,468,836 1,644,148 1,838,767 2,175,192

Tax expense 279286.3 279286.3 279286.3 279286.3 279286.3

(Loss)/Profit for the financial

year

1,117,854 1,189,550 1,364,861 1,559,480 1,895,906

25

11.0 Investment and Return

For this company, we plan to take out loan from local bank amounted of RM 50 000 with 6 %

interest rate.

11.1 Table of loan repayment

Total loan: RM 50,000

Interest rate: 6%

Loan period: 10 years (fixed rate)

Year Principal Interest Annual payment

Principal balance

0 RM 50,000

1 RM 5000 RM 3000 RM 8000 RM 45,000

2 RM 5000 RM 3000 RM 8000 RM 40,000

3 RM 5000 RM 3000 RM 8000 RM 35, 000

4 RM 5000 RM 3000 RM 8000 RM 30, 000

5 RM 5000 RM 3000 RM 8000 RM 25, 000

6 RM 5000 RM 3000 RM 8000 RM 20, 000

7 RM 5000 RM 3000 RM 8000 RM 15, 000

8 RM 5000 RM 3000 RM 8000 RM 10, 000

9 RM 5000 RM 3000 RM 8000 RM 5,000

10 RM 5000 RM 3000 RM 8000 0

26

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