MISC BERHAD - Annual Report 2014 p 252 24. Trade and other payables (cont’d.) (a) Trade payables Trade payables are non-interest bearing and the normal trade credit terms granted to the Group ranges from 14 to 90 days (2013: 14 to 90 days). (b) Amounts due to Group companies The trade amounts due to holding company, fellow subsidiaries and subsidiaries are unsecured and repayable in accordance to the credit terms granted. The non-trade balances are repayable on demand and are noninterest bearing. (c) Amounts due to associates and joint ventures The trade amounts due to associates and joint ventures have normal credit terms ranging from 15 to 30 days (2013: 15 to 30 days) and are non-interest bearing. The non-trade balances are repayable on demand. (d) Provisions Group Corporation 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 At 1 January 829,572 904,954 826,306 866,613 Arose during the year 301,005 4,351 248,620 4,351 Utilised (133,617) (176,371) (133,617) (139,811) Unused amount reversed – (24,568) – (24,568) Unwinding of discount 60,949 59,807 60,949 59,807 Currency translation differences 62,593 61,399 63,285 59,914 At 31 December 1,120,502 829,572 1,065,543 826,306 Current 569,313 226,599 514,354 224,024 Non-current: Later than 1 year but not later than 2 years 129,117 125,818 129,117 125,818 Later than 2 years but not later than 5 years 333,405 308,136 333,405 308,136 More than 5 years 88,667 169,019 88,667 168,328 551,189 602,973 551,189 602,282 1,120,502 829,572 1,065,543 826,306 The provisions include the termination of leases and contractual obligations and employee related costs associated with the exit of the Liner Business in prior years. NOTESTOTHE FINANCIAL STATEMENTS - 31 December 2014
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