193 ANNUAL REPORT 2022 16. Other payables and accrued expenses Group Fund 2022 RM 2021 RM 2022 RM 2021 RM Non current Tenant deposit payables 3,346,464 8,194,657 3,343,617 8,194,657 Current Tenant deposit payables 10,125,926 5,882,510 10,125,926 5,882,510 Other payables 3,273,986 3,328,226 3,273,986 3,328,226 Income distribution 2,900,000 2,900,000 2,900,000 2,900,000 Accrued expenses 4,193,730 3,660,076 4,188,730 3,625,076 Accrued financing cost (Note 17) 1,172,587 1,135,034 927,807 801,024 21,666,229 16,905,846 21,416,449 16,536,836 Total payables (non-current and current) 25,012,693 25,100,503 24,760,066 24,731,493 Add: Islamic financing (Note 17) 637,270,302 635,656,938 187,062,422 186,669,178 Amount due to immediate holding company (Note (a)) - 54,496 - 54,496 Amount due to related companies (Note (b)) 1,231,343 849,605 1,231,343 849,605 Amount due to a subsidiary (Note (c)) - - 445,968,601 444,679,509 Total financial liabilities carried at amortised cost 663,514,338 661,661,542 659,022,432 656,984,281 (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. The amount due to a subsidiary is unsecured, repayable on demand and bears returns of 3.75% to 5.09% (2021: 3.72% to 3.91%) 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 simultaneously. NOTES TO THE FINANCIAL STATEMENTS 31 December 2022 (cont’d.)
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