MKH Annual Report 2019

192 A N N U A L R E P O R T 2 0 1 9 28. PAYABLES AND ACCRUALS (CONT’D) The Company 30.9.2019 30.9.2018 1.10.2017 Note RM RM RM Current Non-trade Amount due to subsidiaries (c) 12,343 8,160 12,720 Other payables 55,960 65,800 341,247 Accruals (g) 701,218 465,976 990,767 769,521 539,936 1,344,734 (a) These are in respect of payable for landowners’ entitlement under deferred payment term pursuant to the joint land development agreements and joint venture agreements entered into with the landowners. Pursuant to the said agreements, the entitlements are determined based on agreed percentage on the total development units and/or total gross development value net of trade discount, where applicable, of the property development projects. These deferred payables are measured at amortised cost at imputed interest rates ranging from 5.56% to 10.00% (30.9.2018: 5.81% to 10.00%; 1.10.2017: 5.61% to 10.00%) per annum. (b) The normal trade credit term granted to the Group ranges from 7 to 90 days (30.9.2018 and 1.10.2017: 7 to 90 days) unless as specified in the agreements. Included in trade payables is amount due to an associate of the Group of RM7,465,019 (30.9.2018: RM6,587,169; 1.10.2017: RM2,668,949) which include retention sumof RM7,465,019 (30.9.2018: RM5,675,820; 1.10.2017: RM2,668,949). (c) Amount due to subsidiaries of the Company is unsecured, interest-free and is repayable on demand. (d) The deferred revenue arises in respect of the progress billings issued in relation to the disposal of inventories and is expected to be recognised within 12 months. (e) Included in deposits received of the Group are: (i) an amount of RM8,027,806 (30.9.2018: RM8,930,313; 1.10.2017: RM8,894,376) being rental, utilities and other deposits received from tenants; and (ii) an amount of RM4,112,332 (30.9.2018: RM3,564,929; 1.10.2017: RM2,616,463) being downpayment from purchasers of development properties. (f) Advances from customers of the Group is downpayment from purchasers of crude palm oil and palm kernel. (g) Included in accruals of the Group are accrued legal and professional fees and agents commission totalling RM17,871,219 (30.9.2018: RM33,502,220; 1.10.2017: RM35,179,447) in respect of on-going property development projects. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2019