20. OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (CONT'D.) (d) Finance lease receivables (cont'd.) The following table sets out maturity analysis of the present value of lease receivables, showing the discounted lease payments to be received after the reporting date (cont’d.). Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Analysed as: Due within 12 months (Note 22) 1,347,489 1,282,856 84,161 75,514 Due after 12 months (Note 22) 15,439,517 13,754,515 870,035 919,746 16,787,006 15,037,371 954,196 995,260 The effective interest rate of the Group’s finance lease receivables is between 2.20% to 9.04% (2020: 3.75% to 7.60%). Included in minimum lease receivables are the estimated unguaranteed residual values of the leased assets of RM772,762,000 (2020: RM576,575,000). The effective interest rate of the Corporation’s finance lease receivable is 7.57% (2020: 7.60%). Included in minimum lease receivable is the estimated unguaranteed residual value of the leased assets of RM33,253,000 (2020: RM32,094,000). As at the end of the financial year, the Group recognised additional finance lease receivables amounting to RM2,524,599,000 (2020: RM519,968,000) and RM65,629,000 (2020: RM Nil) in relation to delivery of ships and modification of lease contract from an operating lease to a finance lease respectively. The movement in the allowance for impairment loss of finance lease receivables during the year are as follows: Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 At 1 January 63,335 73,138 6,512 7,421 Write back of impairment loss (Note 4) (2,929) (8,878) (1,222) (814) Currency translation differences (527) (925) 226 (95) At 31 December 59,879 63,335 5,516 6,512 21. INVENTORIES Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 At cost 120,126 91,349 2,153 – Inventories consist of bunkers, lubricants and raw materials. The cost of inventories recognised as cost of sales during the financial year of the Group and Corporation was RM670,195,000 (2020: RM737,274,000) and RM39,616,000 (2020: RM Nil). 22. TRADE AND OTHER RECEIVABLES Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Trade receivables Third parties 2,931,431 2,294,520 74,629 471,397 Fellow subsidiaries 20,841 104,405 4,840 2,512 Associates 14,059 26 239 26 Joint ventures 30,517 75,181 29,954 34,029 2,996,848 2,474,132 109,662 507,964 Finance lease receivables (Note 20(d)) 1,347,489 1,282,856 84,161 75,514 Due from customers on contracts (Note 23) 496,218 491,259 – – 4,840,555 4,248,247 193,823 583,478 Less: Impairment loss on trade receivables: Third parties (381,712) (604,492) (61,573) (303,467) Joint ventures (22,557) (21,770) (22,557) (21,770) (404,269) (626,262) (84,130) (325,237) Trade receivables, net 4,436,286 3,621,985 109,693 258,241 Other receivables Amount due from related parties: Holding company 146 109 – – Subsidiaries – – 278,349 1,375,158 Fellow subsidiaries 91 69 1,448 – Joint ventures 8,469 9,278 4,528 807 8,706 9,456 284,325 1,375,965 Loans and advances: Subsidiaries – – 513,068 597,392 Deposits 34,741 11,425 2,358 2,276 Prepayments 172,187 1,592,105 28,280 1,288,542 Others 103,189 172,805 42,686 42,287 318,823 1,785,791 870,717 3,306,462 Less: Impairment loss on other receivables: Third parties (765) (1,066) (94) (123) Joint ventures – – (1,710) (4,048) (765) (1,066) (1,804) (4,171) Other receivables, net 318,058 1,784,725 868,913 3,302,291 Total trade and other receivables 4,754,344 5,406,710 978,606 3,560,532 Add: Cash, deposits and bank balances (Note 24) 7,952,347 6,855,005 2,831,994 1,620,947 Add: Net loans and advances (Note 20(a)) 190,648 181,787 439,568 616,600 Add: Net long term receivables (Note 20(a)) 230,483 103,546 131,346 – Add: Long term finance lease receivables (Note 20(d)) 15,439,517 13,754,515 870,035 919,746 Less: Due from customers on contracts (Note 23) (496,218) (491,259) – – Less: Prepayments (172,187) (1,592,105) (28,280) (1,288,542) Total financial assets carried at amortised cost 27,898,934 24,218,199 5,223,269 5,429,283 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 MISC Berhad 390 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 391 FINANCIAL STATEMENTS FINANCIAL STATEMENTS
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