36. TRADE AND OTHER PAYABLES (CONTD.) Company 2024 RM’000 2023 RM’000 CURRENT Other payables Accruals 6,173 15,128 Sundry payables 1,036 1,698 Due to holding company (Note c) 1,242 1,707 Due to related companies (Note d) 762 3,121 Due to subsidiary companies (Note c) 4,194 3,876 Total 13,407 25,530 (a) Trade payables Trade payables are non-interest bearing and the normal trade credit terms granted to the Group range from 30 to 90 days (2023: 30 to 90 days). The Group has established a supplier finance arrangement that is offered to some of the Group’s local key suppliers. Participation in the arrangement is at the suppliers’ own discretion. Suppliers that participate in the supplier finance arrangement will receive early payment on invoices sent to the Group from the Group’s external finance provider. If suppliers choose to receive early payment, they pay a fee to the finance provider, to which the Group is not party. In order for the finance provider to pay the invoices, the goods must have been received or supplied and the invoices approved by the Group. Payments to suppliers ahead of the invoice due date are processed by the finance provider and, in all cases, the Group settles the original invoice by paying the finance provider in line with the original invoice maturity date described above. Payment terms with suppliers have not been renegotiated in conjunction with the arrangement. The Group provides no security to the finance provider. All trade payables subject to the supplier finance arrangement are included in trade and other payables in the consolidated statement of financial position and within trade payables in the table above. As at 31 December 2024, the balances of trade payables under this programme was RM37.0 million (31 December 2023: RM26.4 million, 1 January 2023: RM24.3 million). (b) Retention payables Retention payables are unsecured, interest-free and are expected to be paid within the terms of the relevant contracts. (c) Amounts due to holding and subsidiary companies Amounts due to holding and subsidiary companies are non-interest bearing and repayable on demand. The amounts are unsecured and are to be settled in cash. Further details on related party transactions are disclosed in Note 39. (d) Amounts due to related companies Related companies refer to companies within the UEM group of companies. Amounts due to related companies are non-interest bearing and are repayable on demand. The amounts are unsecured and are to be settled in cash. Further details on related party transactions are disclosed in Note 39. Notes to the Financial Statements For the year ended 31 December 2024 UEM EDGENTA BERHAD 352 Integrated Annual Report 2024
RkJQdWJsaXNoZXIy NDgzMzc=