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101
FRONTKEN CORPORATION BERHAD
(651020-T)
ANNUAL REPORT
2015
23.
HIRE PURCHASE PAYABLES
The Group
2015
2014
RM
RM
Total outstanding
1,214,506
2,611,819
Less: Interest-in-suspense
(89,066)
(195,225)
Present value of payments
1,125,440
2,416,594
Less: Amount due within 12 months
(included under current liabilities)
(686,532)
(1,377,295)
Non-current portion
438,908
1,039,299
The non-current portion is payable as follows:
The Group
2015
2014
RM
RM
Later than one year but not later than five years
429,936
969,832
After five years
8,972
69,467
438,908
1,039,299
It is the Group’s policy to acquire certain of its plant and equipment under hire purchase arrangements. The average
term of the hire purchase is about 1 to 6 years (2014: 1 to 7 years). The interest rates implicit in the hire purchase
obligations range from 1.51% to 5.64% (2014: 1.51% to 7.42%) per annum.
The Group’s hire purchase payables are secured by the financial institutions’ charge over the assets under hire purchase
as disclosed in Note 10 to the financial statements.
24.
TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES
Trade payables of the Group comprise amounts outstanding for trade purchases. The credit periods granted to the
Group for trade purchases range from 30 to 90 days (2014: 30 to 90 days). Included in trade payables is RM87,800
(2014: RM59,363) owing to related parties.
Other payables and accrued expenses consist of:
The Group
The Company
2015
2014
2015
2014
RM
RM
RM
RM
Other payables
19,101,230
18,329,335
1,032,295
1,527,580
Accrued expenses
18,349,706
17,646,358
344,320
304,482
37,450,936
35,975,693
1,376,615
1,832,062
Less: Other payables (included under
non-current liabilities)
(2,433,422)
(383,656)
-
-
Current liabilities
35,017,514
35,592,037
1,376,615
1,832,062
NOTES TO THE FINANCIAL STATEMENTS
(cont’d)