MSM Malaysia Holdings Berhad Annual Report 2020

32 DEFERRED TAX LIABILITIES/(ASSETS) (CONTINUED) Under the Malaysia Finance Act 2018 which was gazetted on 27 December 2018, unutilised tax losses will be imposed with a limit of utilisation for 7 consecutive years as below: Group 2020 2019 RM’000 RM’000 Continuing operations Expiring in 2026 224,725 224,725 Expiring in 2027 88,190 - 312,915 224,725 Discontinuing operation Expiring in 2025 9,252 9,252 Expiring in 2026 5,801 5,801 Expiring in 2027 2,616 - 17,669 15,053 33 PAYABLES Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Current liabilities: Trade payables 5,905 17,132 - - Other payables 43,205 65,170 210 552 Accruals 99,809 45,660 2,318 1,603 Unpaid balance for acquisition of property, plant and equipment (Note 36) 8,172 1,495 - - GST payables - 512 - - Total payables 157,091 129,969 2,528 2,155 Trade payables carry credit periods between 30 to 60 days (2019: 30 to 60 days). The fair value of the payables, excluding GST payables, approximate their carrying value, as the impact of discounting is not significant. MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 214 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 CHAIRMAN’S STATEMENT DELIVERING VALUE MSM OVERVIEW MANAGEMENT DISCUSSION & ANALYSIS GROUP FINANCIAL REPORT