MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 239 Financial Statements 18. OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (a) Other non-current financial assets Group Corporation 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 Available-for-sale: Non-current unquoted equity investments (Note 36) 45,552 53,269 45,538 53,101 Non-current quoted equity investment (Note 36) 63,714 66,687 63,714 66,687 Total available-for-sale 109,266 119,956 109,252 119,788 Loans and receivables: Long term receivables (Note 36) 128,481 150,812 - - Loans and advances to: Subsidiaries - - 1,922,091 4,709,895 Joint venture - 47,887 - 47,887 Associates 2,436 2,865 2,436 2,691 2,436 50,752 1,924,527 4,760,473 Less: Impairment on loans to associates (2,436) (2,691) (2,436) (2,691) (2,436) (2,691) (2,436) (2,691) Net loans and advances (Note 21) - 48,061 1,922,091 4,757,782 Total other non-current financial assets 237,747 318,829 2,031,343 4,877,570 Non-current quoted equity instruments are held as long-term strategic investments. Long term receivables relate to a subsidiary's lease income during the ships construction period which is payable by the lessee progressively over a 20-year time charter period. The loans and advances to subsidiaries are unsecured and bear interest ranging from 1.50% to 4.25% (2016: 1.55% to 4.25%) per annum. The loans and advances to a joint venture in the previous financial year were unsecured and bear interest ranging from 4.50% to 4.87% per annum. The said loan and advances have been fully paid during the current financial year.