EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 93 notes to the financial statements 31 december 2019 (cont’d) 21. Other Payables Group Company 2019 2018 2019 2018 RM RM RM RM Other payables 661,658 8,054,497 616,652 8,023,537 Deposits received 78,340 72,300 78,340 72,300 Accruals 1,613,752 2,057,991 1,563,440 2,009,694 2,353,750 10,184,788 2,258,432 10,105,531 22. Contract Liabilities Group Company 2019 2018 2019 2018 RM RM RM RM Deferred revenue 1,385,993 1,069,955 573,522 381,124 Deferred revenue represents advance consideration received (or an amount of consideration is due) from the customer in respect of services which are yet to be provided. The deferred revenue will be recognised as revenue when the related services is rendered. 23. Lease Liabilities Group and Company 2019 RM At 1 January 2019 - Effect of adoption of MFRS 16 [Note 2(a)] 728,386 At 1 January 2019, restated 728,386 Accretion of interest 19,511 Payments of lease (394,806) At 31 December 353,091 - Presented as: Current 353,091