Serba Dinamik Annual Report 2016

136 SERBA DINAMIK HOLDINGS BERHAD Company No.1167905 P NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 10. TRADE AND OTHER RECEIVABLES - GROUP 2016 RM Trade Trade receivables 657,115,398 Accrued billings 70,153,118 727,268,516 Non-trade Other receivables 13,925,109 Total 741,193,625 10.1 Trade receivables denominated in foreign currencies comprise the following amounts. Group 2016 RM United States Dollar (“USD”) 431,539,264 11. DEPOSITS AND PREPAYMENTS Group Company 2016 2016 RM RM Deposits 4,799,655 – Prepayments for: - land 1,753,160 – - subsidiary 1,204,255 – - others 3,563,495 1,413,766 6,520,910 1,413,766 11,320,565 1,413,766 On 23 December 2016, the Group paid a deposit of RM2,000,000 as downpayment for acquisition of an investment. The acquisition is expected to be completed by the second quarter of financial year 2017. On 1 January 2016, the Group entered into a sale of shares agreement for the acquisition of 100% equity interest in Supreme Vista Industries Sdn. Bhd. for a cash consideration of RM2,004,255. The acquisition is expected to be completed in the third quarter of 2017 following the payment of the balance sum, which is payable in instalments until the completion date. The completion date will be the date of final and full payment by the Group. Included in the prepayments is an amount of RM1,204,255 paid for this acquisition.