GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 135 NOT ES TO THE F I NANC I A L STAT EMENTS 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D 28. TRADE AND OTHER PAYABLES Group Company 2018 2017 2018 2017 RM RM RM RM Non-current liabilities Contingent consideration 14,950,941 - - - Current liabilities Trade payables Third parties 40,257,758 23,473,330 - 153,891 Amounts owing to subsidiaries - - 4,251,312 - 40,257,758 23,473,330 4,251,312 153,891 Other payables Other payables 86,259,825 60,148,164 824,886 253,440 Contingent consideration 14,852,899 - - - Amounts owing to subsidiaries - - 42,593 11,738,219 Deposits 12,349,572 12,910,243 601,879 601,879 Accruals 17,216,918 16,511,748 732,078 794,978 130,679,214 89,570,155 2,201,436 13,388,516 Total current liabilities 170,936,972 113,043,485 6,452,748 13,542,407 Total liabilities Contingent consideration 29,803,840 - - - Third parties 40,257,758 23,473,330 - 153,891 Other payables 86,259,825 60,148,164 824,886 253,440 Amounts owing to subsidiaries - - 4,293,905 11,738,219 Deposits 12,349,572 12,910,243 601,879 601,879 Accruals 17,216,918 16,511,748 732,078 794,978 185,887,913 113,043,485 6,452,748 13,542,407 (a) Trade and other payables are classified as financial liabilities and measured at amortised cost except for contingent consideration in a business combination which are designated at fair value through profit or loss upon initial recognition. (b) Trade payables are non-interest bearing and the normal trade credit terms granted to the Group and the Company range from 1 to 90 days and 30 to 60 days (2017: 1 to 90 days and 30 to 60 days) respectively. (c) Other payables of the Group consist prepayments received from retailers, merchants payables and general administrative expenses payable which are non-interest bearing.