e period of MKH Berhad 187 PAYABLES AND ACCRUALS (CONT’D) 31. Notes to the Financial Statements For the Financial Year Ended 30 September 2022 Include in other payables of the Group are: (e) Included in deposits received of the Group are an amount of RM8,623,118 (2021: RM8,314,969) being rental, utilities and other deposits received from tenants. Advances from customers of the Group is down payment from purchasers of crude palm oil and palm kernels. Included in accruals of the Group are accrued legal and professional fees and agents commission totalling RM14,669,838 (2021: RM20,919,104) in respect of on-going property development projects. (f) (g) (h) an amount of RM72,812,723 (2021: RM47,674,113) being overpayment from purchasers of development properties which will be set off against future progress billings for the development properties; and an amount due to corporate shareholders of the Group of RMNil (2021: RM1,227,698) which is unsecured, interest-free and is repayable on demand. (i) (ii) 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 the 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 4.37% to 10.00% (2021: 4.51% to 10.00%) per annum. The normal trade credit term granted to the Group ranges from 7 to 90 days (2021: 7 to 90 days) unless as specified in the agreements. Included in trade payables is amount due to an associate of the Group of RM45,089,273 (2021: RM30,661,731) including retention sums of RM13,845,428 (2021: RM8,296,019). Amount due to subsidiaries of the Company is unsecured, interest-free and repayable on demand. Included in amount due to non-controlling interest is: (a) (b) (c) (d) an amount of RM9,800,000 (2021: RMNil) which is unsecured, bears interest at 5.01% (2021: Nil) per annum and is repayable on demand; and an amount of RM79,364 (2021: RMNil) which is unsecured, interest-free and is repayable on demand. (i) (ii)
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