GHL System Berhad Annual Report 2020

155 a n n u a l r e p o r t 2 0 2 0 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 CONT’D 25. BORROWINGS (cont’d) (l) Reconciliation of liabilities arising from financing activities The table below details changes in the Group’s and Company’s borrowings arising from financing activities, including both cash and non-cash changes. Borrowings arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the statements of cash flows of the Group and of the Company as cash flows from financing activities. Group Company 2020 2019 2020 2019 RM RM RM RM At 1 January 26,204,219 24,602,516 - - Cash flows (4,064,848) 1,311,792 - - Non-cash flows: - Effect of foreign exchange 35,483 289,911 - - At 31 December 22,174,854 26,204,219 - - 26. TRADE AND OTHER PAYABLES Group Company 2020 2019 2020 2019 RM RM RM RM Trade payables Third parties 32,299,106 34,884,085 - - Amounts owing to subsidiaries - - - 30,697 Amounts owing to associate 1,609 106,450 - - 32,300,715 34,990,535 - 30,697 Other payables Other payables 90,287,027 86,239,081 831,086 1,200,161 Contingent consideration - 12,874,737 - - Amounts owing to subsidiaries - - 1,407,681 5,714,310 Deposits 11,103,802 12,446,699 601,879 601,879 Accruals 25,844,337 13,203,902 485,078 822,815 127,235,166 124,764,419 3,325,724 8,339,165 Total trade and other payables 159,535,881 159,754,954 3,325,724 8,369,862 (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 (2019: 1 to 90 days and 30 to 60 days) respectively.