24. CASH, DEPOSITS AND BANK BALANCES Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Cash with PETRONAS Integrated Financial Shared Services Centre 5,462,424 4,023,265 2,810,026 1,609,734 Cash and bank balances 2,088,103 1,840,120 52 42 Deposits with licensed banks 401,820 991,620 21,916 11,171 7,952,347 6,855,005 2,831,994 1,620,947 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 RM940,954,000 (2020: RM1,303,393,000) 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 RM7,550,527,000 (2020: RM5,863,385,000) and RM2,810,078,000 (2020: RM1,609,776,000) 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 2021 2020 RM’000 RM’000 Offshore floating assets, plant and machineries 14,312 4,834 The movement during the financial year relating to non-current assets held for sale are as follows: Group 2021 2020 RM’000 RM’000 At 1 January 4,834 125,278 Transfer from ships and offshore floating assets (Note 14) 40,630 118,193 Transfer from plant and machineries (Note 14) 14,312 – Write down (Note 5(a)) – (10,216) Disposals (45,606) (231,337) Currency translation differences 142 2,916 At 31 December 14,312 4,834 In the current financial year, the Group has classified a ship, plant and machineries as held for sale with the intention of disposal in the immediate future. 26. TRADE AND OTHER PAYABLES Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Trade payables Third parties 359,107 61,210 9,965 3,875 Subsidiaries – – 142,894 172,740 Holding company 425 10,430 204 9,914 Fellow subsidiaries 463 254 78 3 Associates 10,221 – 10,491 – Accruals 1,396,596 1,033,681 162,569 132,798 Deferred income (Note 30) 168,602 194,939 – – Due to customers on contracts (Note 23) 119,192 15,395 – – 2,054,606 1,315,909 326,201 319,330 Other payables Amount due to related parties: Subsidiaries – – 292,974 305,112 Holding company 1,437 459 1,385 406 Fellow subsidiaries 988 690 – – Associates 435 965 435 – Joint ventures 29,564 68,938 – – Accruals 574,288 533,919 61,367 46,912 Provisions (Note 26(c)) 1,262,999 1,187,960 23,673 22,848 Others 117,447 400,413 70,044 329,130 1,987,158 2,193,344 449,878 704,408 Total trade and other payables 4,041,764 3,509,253 776,079 1,023,738 Add: Total borrowings (Note 20(c)) 17,029,016 13,440,386 663,189 1,224,737 Less: Due to customers on contracts (Note 23) (119,192) (15,395) – – Less: Provisions (Note 26(c)) (1,262,999) (1,187,960) (23,673) (22,848) Less: Deferred income (Note 30) (168,602) (194,939) – – Total financial liabilities carried at amortised cost 19,519,987 15,551,345 1,415,595 2,225,627 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 MISC Berhad 394 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 395 FINANCIAL STATEMENTS FINANCIAL STATEMENTS
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