PRG Holdings Berhad Annual Report 2017

• Annual Report 2017 123 13. TRADE AND OTHER RECEIVABLES (CONT’D) (b) Amounts owing by subsidiaries (cont’d) (ii) In the previous financial year, included in amounts owing by subsidiaries in other receivables was the current portion of RM1,976,000 of the above-mentioned loan in Note 13(b)(i) which was unsecured, bore interest at 4% per annum and was payable in cash and cash equivalents within one (1) year. In the current financial year, amounts owing by subsidiaries represent advances and payments made on behalf, which are unsecured, interest-free and payable upon demand in cash and cash equivalents. (c) Amounts owing by associates Included in amounts owing by associates of the Group are loans to an associate amounting to RM4,664,000 (2016: RMNil), which are unsecured, bear interest at 3% per annum and are payable in cash and cash equivalents within one (1) year. The remaining amounts owing by associates represent advances and payments made on behalf, which are unsecured, interest-free and payable upon demand in cash and cash equivalents. (d) Amount owing by a joint venture The amount owing by a joint venture represents payments made on behalf and commission charges, which are unsecured, interest- free and payable upon demand in cash and cash equivalents. (e) Deposits for land acquisition In the previous financial year, deposits for land acquisition represented an amount of RM3,897,000 paid to Baycity Park Sdn. Bhd. (“BPSB”) pursuant to the Development Joint Venture Agreement entered between BPSB and Premier Baycity Sdn. Bhd. for the proposed development of the development land in Subang U5, Selangor. In the current financial year, deposits for land acquisition represent an amount of RM5,179,000 paid to Cash Key (Ipoh) Sdn. Bhd. (“Cash Key”) pursuant to the Mutual Agreement entered between Cash Key, SPNB Aspirasi Sdn. Bhd. and Premier Construction Sdn. Bhd. for the proposed development of 213 parcels of land in Daerah Kinta, Perak. (f) Currency exposure profile The currency exposure profile of trade and other receivables (exclude deposits for land acquisition, prepayments and amounts due from customers for contract works) are as follows: Group Company 2017 2016 2017 2016 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 63,253 8,500 66,944 51,660 United States Dollar 14,795 11,254 - 4,383 Vietnamese Dong 5,078 5,805 - - Pound Sterling 82 56 - - Euro 110 110 - - Hong Kong Dollar 7 - - - 83,325 25,725 66,944 56,043 (g) Information on financial risks of trade and other receivables is disclosed in Note 33 to the financial statements. N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 3 1 D E C E M B E R 2 0 1 7 ( C O N T ’ D )