16. Other payables and accrued expenses Group Fund 2021 2020 2021 2020 RM RM RM RM Non current Tenant deposit payables 8,194,657 8,946,318 8,194,657 8,946,318 Current Tenant deposit payables 5,882,510 5,624,357 5,882,510 5,624,357 Other payables 3,328,226 1,576,038 3,328,226 1,576,038 Income distribution 2,900,000 - 2,900,000 - Accrued expenses 3,660,076 4,583,010 3,625,076 4,553,010 Accrued financing cost (Note 17) 1,135,034 1,341,440 801,024 959,678 16,905.846 13,124,845 16,536,836 12,713,083 Total payables (non-current and current) 25,100,503 22,071,163 24,731,493 21,659,401 Add: Islamic financing (Note 17) 635,656,938 633,855,901 186,669,178 117,108,795 Amount due to immediate holding company (Note (a)) 54,496 - 54,496 - Amount due to related companies (Note (b)) 849,605 - 849,605 - Amount due to a subsidiary (Note (c)) - - 444,679,509 511,526,831 Total financial liabilities carried at amortised cost 661,661,542 655,927,064 656,984,281 650,295,027 (a) Amount due to immediate holding company Amount due to immediate holding company is non-trade, unsecured, interest-free and repayable on demand. (b) Amount due to related companies Amount due to related companies are non-trade, unsecured, interest-free and repayable on demand. (c) Amount due to a subsidiary Amount due to a subsidiary represents unsecured advances received from the proceeds raised from Islamic financing by the subsidiary. The finance costs and repayment terms of the unsecured advances mirror the finance costs and repayment terms of the Islamic financing of Sukuk Ijarah raised by the said subsidiary as disclosed in Note 17. Also included in the amount due to a subsidiary are the accrued profit from the cash reserves of RM4,308,251 (2020: RM5,220,275) which is unsecured, repayable on demand and bears returns of 3.72% to 3.91% (2020: 3.72% to 3.90%) per annum, that are presented as net amount as there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. A L - S A L Ā M R E I T A N N U A L R E P O R T 2 0 2 1 168 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 (CONT’D)
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