Annual Report 2023 167 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 28. TRADE PAYABLES Group 2023 2022 RM’000 RM’000 Trade payables 19,457 6,583 The normal trade credit terms granted to the Group range from 30 to 90 (2022 - 30 to 90) days. 29. OTHER PAYABLES AND ACCRUALS Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Other payables 2,272 1,986 73 172 Deferred income 1,524 2,124 - - Provisions 7,387 3,184 1,417 559 Accruals 4,496 7,354 146 152 15,679 14,648 1,636 883 Accruals consist of cost for goods or services and subcontracting services. 30. SHORT-TERM BORROWINGS Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Secured:- Term loans (Note 24) 4,140 4,126 - - Term financing (Note 25) 1,447 1,398 1,447 1,398 Trade financing 34,307 3,425 - - Lease liabilities (Note 26) 708 - 708 - 40,602 8,949 2,155 1,398 The trade financing bore effective interest rates ranging from 3.94% to 5.98% (2022 - 3.76% to 3.91%) per annum and are secured by a corporate guarantee of the Company. Certain trade financing is secured by a legal charge over a property of the Group and of the Company. 31. NET ASSETS PER SHARE The net assets per share of the Group is calculated based on the net asset value at the end of the financial year of RM360,144,000 (2022 - RM342,246,000) divided by the number of ordinary shares (net of treasury shares of 129,450,000 (2022 - 96,641,000)) at the end of the financial year of 2,832,550,000 (2022 - 2,865,359,000).
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