PRG Holdings Berhad Annual Report 2017

• PRG HOLDINGS BERHAD 132 21. TRADE AND OTHER PAYABLES Group Company 2017 2016 2017 2016 Note RM’000 RM’000 RM’000 RM’000 Non-current Other payables (c) 9,556 11,580 - - Current Trade payables Third parties 13,097 16,357 - - Retention sums 3,693 1,571 - - Amount owing to a joint venture 48 11 - - (a) 16,838 17,939 - - Other payables Amounts owing to subsidiaries (b) - - - 2,903 Amounts owing to associates (b) 37 - - - Other payables (c) 93,788 56,817 49 959 Accruals 21,479 7,671 70 109 115,304 64,488 119 3,971 Amounts due to customers for contract works 15 1,794 236 - - Progress billings in respect of property development costs 42,068 17,579 - - Total current 176,004 100,242 119 3,971 Grand total 185,560 111,822 119 3,971 (a) Trade payables Trade payables are non-interest bearing and the normal trade credit terms granted to the Group range from one (1) month to three (3) months (2016: one (1) month to three (3) months) from the date of invoice. The amount owing to a joint venture included in trade payables is subject to trade terms. (b) Amounts owing to subsidiaries and associates The amounts owing to subsidiaries and associates represent advances, which are unsecured, interest-free and payable upon demand in cash and cash equivalents. (c) Other payables (i) Non-current and current other payables of the Group include amounts of RM9,556,000 and RM5,663,000 respectively (2016: RM11,580,000 and RM19,474,000 respectively), which represent the present value of the remaining unpaid amount for the purchase consideration of the development land as disclosed in Note 14(a) to the financial statements. (ii) Included in other payables of the Group is an amount of RM10,569,000 (2016: RMNil), which represent the balance of the purchase consideration of the development land as disclosed in Note 14(b) to the financial statements. (iii) Included in other payables of the Group is an amount of RM57,759,000 (2016: RM33,668,000) paid by the underwriter pursuant to the Promoter and Underwriter Agreement. 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 )