150
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
(Continued)
24. TRADE AND OTHER PAYABLES
Group
Company
2016
RM’000
2015
RM’000
2016
RM’000
2015
RM’000
Non-current liabilities
Other payables
Other payables
10,274
4,893
2,984
4,893
Contingent consideration for business combination
7,130
-
-
-
Other payables
17,404
4,893
2,984
4,893
Current liabilities
Trade payables
Third parties
24,748
31,351
-
-
Other payables, deposits and accruals
Amounts owing to subsidiaries
-
-
10,000
6,071
Other payables
20,780
17,248
2,295
1,960
Contingent consideration for business combination
6,548
-
-
-
Deposits
2,722
1,396
-
-
Accruals
43,400
48,457
2,034
4,371
73,450
67,101
14,329
12,402
98,198
98,452
14,329
12,402
115,602
103,345
17,313
17,295
(a)
Non-current other payables of the Group and of the Company of RM2,984,000 (2015: RM4,893,000) represent deferred consideration
for the acquisition of a subsidiary, Jeco (Pte) Limited in the previous financial years. The amount is unsecured, interest-free and
repayable by August 2017. The remaining non-current other payables of the Group of RM7,290,000 (2015: Nil) represent amounts
payable for the acquisition of property, plant and equipment, which are unsecured, interest-free and repayable by June 2018.
(b)
The contingent consideration for business combination represents amount payable for the acquisition of IBB.
(c)
Trade payables are non-interest bearing and the normal trade credit terms granted to the Group range from 30 to 90 days (2015: 30
to 90 days).
(d)
Amounts owing to subsidiaries represent advances and payments made on behalf, which are unsecured, interest-free and payable
upon demand in cash and cash equivalents.
(e)
Information on the financial risks of trade and other payables is disclosed in Note 38 to the financial statements.
