MISC Integrated Annual Report 2020

26. TRADE AND OTHER PAYABLES (CONT’D.) (a) Trade payables Trade payables are non-interest bearing and the normal trade credit terms granted to the Group ranges from 14 to 90 days (2019: 14 to 90 days). (b) Other payables and amounts due to related parties The non-trade balances due to holding company, subsidiaries, fellow subsidiaries, associates and joint ventures arose in the normal course of business. (c) Provisions Group Corporation 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 At 1 January 43,566 72,717 42,928 64,950 Arose during the year 1,215,213 – – – Utilised (20,803) (28,665) (20,169) (21,541) Currency translation differences (50,016) (486) 89 (481) At 31 December 1,187,960 43,566 22,848 42,928 27. SHARE CAPITAL AND TREASURY SHARES Group and Corporation Number of shares Amount Share Treasury Share Treasury Capital Shares Capital Shares ’000 ’000 RM’000 RM’000 (i) At 1 January/31 December 2020 4,463,794 (47) 8,923,262 (271) At 1 January/31 December 2019 4,463,794 (47) 8,923,262 (271) (i) The Group has one issued special preference share of RM1. The special preference share, which may only be held by the Ministry of Finance (Incorporated) (“MoF”) or its successors or any Minister, representative, or any person acting on behalf of the Government of Malaysia, carries rights as provided in the Corporation’s Constitution. Certain matters, in particular the alterations of specified Rules in the Constitution, require the prior approval of the holder of the special preference share. The holder of the special preference share is not entitled to any dividend nor to participate in the capital distribution upon dissolution of the Corporation but shall rank for repayment in priority to all other shares. The share does not carry any right to vote at General Meetings but the holder is entitled to attend and speak at such meetings. 28. OTHER RESERVES Other Currency Revaluation Capital Capital Statutory Hedging Translation Reserve Reserve Reserve Reserve Reserve Reserve Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 28(a) 28(b) 28(c) 28(d) 28(e) 28(f) Group At 1 January 2020 1,357 435,199 99,299 3,161 (159,929) 5,681,164 6,060,251 Currency translation differences: Group – – – – – (509,186) (509,186) Associate – – – – – (11) (11) Joint ventures – – – – – (11,503) (11,503) Fair value loss on cash flow hedges: Group – – – – (387,618) – (387,618) Joint ventures – – – – (29,928) – (29,928) At 31 December 2020 1,357 435,199 99,299 3,161 (577,475) 5,160,464 5,122,005 At 1 January 2019 1,357 435,199 99,299 3,161 2,956 6,042,032 6,584,004 Currency translation differences: Group – – – – – (353,608) (353,608) Associate – – – – – (1) (1) Joint ventures – – – – – (7,259) (7,259) Fair value loss on cash flow hedges: Group – – – – (162,885) – (162,885) At 31 December 2019 1,357 435,199 99,299 3,161 (159,929) 5,681,164 6,060,251 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 10 416 10 417 /// 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