(a) Illustrate how a priority is given to the charge holders in the circumstances below: (i) Two fixed charges are created on the same property and both are registered accordingly. (2 marks) (ii) Two floating charges are created on the same property but the charge created later is registered. (2 marks) (iii) A fixed charge and a floating charge are created on the same property but the fixed charge is unregistered. (2 marks) (iv) A fixed charge and a floating charge are created on the same property but the floating charge is registered and supported by a negative pledge clause. (2 marks) (v) Two fixed charges are created on the same property but both are not registered. (2 marks) (b) TNext Berhad intends to raise RM109 millions for future investment, partial repayment of bank borrowings and working capital. One of the directors proposes to undertake private placement. Briefly illustrate the various methods of capital raising and decide with the board of TNext Berhad whether private placement is the most appropriate avenue of fundraising. (10 marks)