MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 251 Financial Statements 21. TRADE AND OTHER RECEIVABLES (CONT'D.) (a) Trade receivables The Group's normal trade credit terms with its customers range from 7 to 90 days (2016: 7 to 90 days). Other credit terms are assessed and approved on a case-by-case basis and each customer is assigned a maximum credit limit. (b) Other receivables and amounts due from related parties The non-trade balances due from holding company, subsidiaries, associates and joint ventures are repayable on demand and are non-interest bearing. 22. DUE FROM/(TO) CUSTOMERS ON CONTRACTS Group 2017 RM'000 2016 RM'000 Construction contract costs incurred and recognised profits to date 14,012,721 14,602,106 Less: Progress billings (13,116,424) (14,014,075) 896,297 588,031 Due from customers on contracts (Note 21) 905,214 606,504 Due to customers on contracts (Note 25) (8,917) (18,473) 896,297 588,031 23. CASH, DEPOSITS AND BANK BALANCES Group Corporation 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 Cash with PETRONAS Integrated Financial Shared Services Centre 4,539,414 5,401,275 2,565,719 3,468,220 Cash and bank balances 393,122 929,919 12,054 235 Deposits with licensed banks 968,188 228,013 - 401 5,900,724 6,559,207 2,577,773 3,468,856 To allow more efficient cash management for the Group and the Corporation, the Group and the Corporation’s cash and bank balances have, since 1 July 2013, been held in the In-House Account (“IHA”) managed by PETRONAS Integrated Financial Shared Services Centre (“IFSSC”).