235 MISC BERHAD Annual Report 2015 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 (2014: 14 to 90 days). (b) Other payables and amounts due to related parties The non-trade balances due to holding company, subsidiaries, associates and joint ventures are repayable on demand and are non-interest bearing. (c) Provisions Group Corporation 2015 2014 2015 2014 RM’000 RM’000 RM’000 RM’000 At 1 January 1,120,502 829,572 1,065,543 826,306 Arose during the year 217,814 301,005 173,590 248,620 Utilised (288,334) (133,617) (288,334) (133,617) Unused amount reversed (63,021) – (63,021) – Unwinding of discount 64,163 60,949 64,163 60,949 Currency translation differences 225,900 62,593 232,422 63,285 At 31 December 1,277,024 1,120,502 1,184,363 1,065,543 Current 579,980 569,313 487,319 514,354 Non-current: Later than 1 year but not later than 2 years 197,243 129,117 197,243 129,117 Later than 2 years but not later than 5 years 469,404 333,405 469,404 333,405 More than 5 years 30,397 88,667 30,397 88,667 697,044 551,189 697,044 551,189 1,277,024 1,120,502 1,184,363 1,065,543 The provisions include the contract for in-chartered ships where the unavoidable cost of meeting the obligations under the contracts exceed the economic benefits expected to be derived from the assets and one time termination benefits provided to employees.
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