Frontken Berhad Annual Report 2017

102 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2017 23. HIRE PURCHASE PAYABLES The Group 2017 2016 RM RM Total outstanding 374,634 659,725 Less: Interest-in-suspense (26,423) (56,232) Present value of payments 348,211 603,493 Less: Amount due within 12 months (included under current liabilities) (182,250) (249,222) Non-current portion 165,961 354,271 The non-current portion is payable as follows: The Group 2017 2016 RM RM Later than one year but not later than five years 165,961 354,271 It is the Group’s policy to acquire certain of its plant and equipment under hire purchase arrangements. The hire purchase arrangements are expiring from 1 to 5 years (2016: 1 to 6 years). The interest rates implicit in the hire purchase obligations range from 1.70% to 5.28% (2016: 1.70% to 5.64%) per annum. The Group’s hire purchase payables are secured by the financial institutions’ charge over the assets under hire purchase as disclosed in Note 10 to the financial statements. 24. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES Trade payables of the Group comprise amounts outstanding for trade purchases. The credit periods granted to the Group for trade purchases range from 30 to 90 days (2016: 30 to 90 days). Included in trade payables is RM4,721 (2016: RM5,582) owing to related parties. Other payables and accrued expenses consist of: The Group The Company 2017 2016 2017 2016 RM RM RM RM Other payables 33,705,986 31,397,358 9,358 9,079 Accrued expenses 30,078,881 24,163,584 2,185,086 1,229,012 63,784,867 55,560,942 2,194,444 1,238,091 Less: Other payables (included under non-current liabilities) (3,225,327) (3,134,277) - - Current liabilities 60,559,540 52,426,665 2,194,444 1,238,091 Notes To The Financial Statements (cont’d)