90 EXCEL FORCE MSC BERHAD Notes to the Financial Statements (cont’d) 18. LEASE LIABILITIES (CONT’D) Thematurity analysis of lease liabilities of the Group and of the Company at the end of the reporting period are as follows: Group and Company 2021 2020 RM RM Within one year 363,074 363,074 Later than one year and not later than two years 332,818 363,074 Later than two years and not later than five years - 332,819 695,892 1,058,967 Less: Future finance charges (23,775) (53,650) Present value of lease liabilities 672,117 1,005,317 The Group leases buildings and computer equipment. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The weighted average incremental borrowing rate applied to lease liabilities at the reporting date was 3.5% (2020: 3.5%). 19. TRADE PAYABLES The normal trade credit term granted to the Group and to the Company range from 30 to 90 days (2020: 30 to 90 days) depending on the terms of the contracts. 20. OTHER PAYABLES Group Company 2021 2020 2021 2020 Note RM RM RM RM Other payables 71,021 101,085 70,156 97,931 Accruals 2,375,767 2,731,804 2,268,442 2,634,539 Deposits received 78,340 821,138 78,340 821,138 Provision of loss claim (a) 1,600,000 1,000,000 1,600,000 1,000,000 Service tax payables 546,815 727,961 526,723 694,058 4,671,943 5,381,988 4,543,661 5,247,666 (a) Provision of loss claim Provision of loss claim represents potential loss claim compensation of RM1,600,000 (2020: RM1,000,000) to 2 customers (2020: 1 customer) for the disruption of services to the customers. Movement of provision of loss claim is as follow: Group 2021 2020 RM RM At 1 January 1,000,000 - Provision made 600,000 1,000,000 At 31 December 1,600,000 1,000,000
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