MISC Integrated Annual Report 2020

24. CASH, DEPOSITS AND BANK BALANCES (CONT’D.) To allow more efficient cash management for the Group and the Corporation, the Group’s and the Corporation’s cash and bank balances have, since 1 July 2013, been held in the In-House Account (“IHA”) managed by PETRONAS Integrated Financial Shared Services Centre (“IFSSC”). Included in cash and bank balances and deposits with licensed banks of the Group is the retention account of RM1,303,393,000 (2019: RM1,289,730,000) which is restricted for use because of the requirement of loan covenants. Included in cash with IFSSC and cash and bank balances of the Group and the Corporation are interest-bearing balances amounting to RM5,863,385,000 (2019: RM5,917,404,000) and RM1,609,776,000 (2019: RM2,803,116,000) respectively. Other information on financial risks of cash and cash equivalents are disclosed in Note 38. 25. NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE Group 2020 2019 RM’000 RM’000 Ships and offshore floating assets 4,834 125,278 The movement during the financial year relating to non-current assets held for sale are as follows: Group 2020 2019 RM’000 RM’000 At 1 January 125,278 – Write down (Note 5(a)) (10,216) – Transfer from ships and offshore floating assets (Note 14) 118,193 446,837 Disposals (231,337) (320,244) Currency translation differences 2,916 (1,315) At 31 December 4,834 125,278 In the current financial year, the Group has classified certain ships and offshore floating assets as held for sale with the intention of disposal in the immediate future. 26. TRADE AND OTHER PAYABLES Group Corporation 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Trade payables Third parties 61,210 153,988 3,875 5,883 Subsidiaries – – 172,740 117,325 Holding company 10,430 6,824 9,914 6,567 Fellow subsidiaries 254 1,341 3 30 Accruals 1,033,681 982,004 132,798 266,642 Deferred income (Note 30) 194,939 102,626 – – Due to customers on contracts (Note 23) 15,395 5,993 – – 1,315,909 1,252,776 319,330 396,447 Other payables Amount due to related parties: Subsidiaries – – 305,112 339,311 Holding company 459 457 406 404 Fellow subsidiaries 690 6 – 4 Associates 965 965 – – Joint ventures 68,938 67,583 – 2,923 Accruals 533,919 562,075 46,912 40,867 Provisions (Note 26(c)) 1,187,960 43,566 22,848 42,928 Others 400,413 259,160 329,130 174,045 2,193,344 933,812 704,408 600,482 Total trade and other payables 3,509,253 2,186,588 1,023,738 996,929 Add: Total borrowings (Note 20(c)) 13,440,386 13,152,173 1,224,737 1,649,920 Less: Due to customers on contracts (Note 23) (15,395) (5,993) – – Less: Provisions (Note 26(c)) (1,187,960) (43,566) (22,848) (42,928) Less: Deferred income (Note 30) (194,939) (102,626) – – Total financial liabilities carried at amortised cost 15,551,345 15,186,576 2,225,627 2,603,921 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 10 414 10 415 /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// Section Section MISC Berhad / Integrated Annual Report 2020 MISC Berhad / Integrated Annual Report 2020