MKH Annual Report 2018

158 MKH Berhad Annual Report 2018 19. RECEIVABLES, DEPOSITS AND PREPAYMENTS (Cont’d) (g) Included in other receivables of the Group are: (i) an amount of RM8,752,676 (2017: RM3,621,392) being indirect taxes paid in advance to tax authorities; (ii) an amount of RM4,825,917 (2017: RM4,198,434) being amount due from Plasma Farmers Cooperative in Indonesia; and The movement of allowance account used to record the impairment of other receivables is as follows: The Group The Company 2018 2017 2018 2017 RM RM RM RM At beginning of year 550,764 607,247 43,730 47,930 Additions - 2,000 - - No longer required (32,200) (58,483) (7,200) (4,200) At end of year 518,564 550,764 36,530 43,730 The impaired other receivables at the reporting date relate to debtors that have defaulted on payment. These receivables are not secured by any collateral or credit enhancements. (h) The joint venture deposits are paid to landowners in respect of Joint Venture Agreements (“Agreements”) whereby the Group is responsible to implement and undertake the overall development projects on the land owned by the third parties upon fulfilment of the terms and conditions as stipulated in the Agreements. During the financial year, the Group reclassified joint venture deposits amounted to RM15,265,716 to property development costs upon fulfilment of terms and conditions stipulated in the Agreements as disclosed in Note 20. (i) Included in other deposits of the Group is RM13,759,524 (2017: RM13,440,271) paid to the relevant authorities for property development projects. (j) Included in prepayments of the Group are: (i) RMNil (2017: RM1,290,188) paid for the acquisition of land in Indonesia. During the financial year, the Group reclassified prepayments amounted to RM1,290,188 to prepaid lease payments as disclosed in Note 13; (ii) RM5,668,010 (2017: RM28,612,485) preliminary costs incurred in respect of future property development projects. During the financial year, the Group reclassified certain prepayments pertaining to joint venture projects amounted to RM28,597,733 to property development costs upon fulfilment of terms and conditions as stipulated in the agreement as disclosed in Note 20; and (iii) an amount of RM11,349,748 (2017: RM12,669,284) paid to Trustee accounts for joint development of infrastructure projects with other developers. FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018 NOTES TO THE FINANCIAL STATEMENTS