GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 157 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 26. HIRE PURCHASE CREDITORS (cont’d) In the previous financial year, the hire purchase of the Group and of the Company attracted interest at rates ranging from 2.32% to 7.58% and 3.96% per annum. 27. TRADE AND OTHER PAYABLES Group Company 2019 2018 2019 2018 RM RM RM RM Non-current liabilities Contingent consideration - 14,950,941 - - Current liabilities Trade payables Third parties 34,884,085 40,257,758 - - Amounts owing to subsidiaries - - 30,697 4,251,312 Amounts owing to associate 106,450 - - - 34,990,535 40,257,758 30,697 4,251,312 Other payables Other payables 86,239,081 85,125,661 1,200,161 824,886 Contingent consideration 12,874,737 14,852,899 - - Amounts owing to subsidiaries - - 5,714,310 42,593 Deposits 12,446,699 12,349,572 601,879 601,879 Accruals 13,203,902 17,216,918 822,815 732,078 124,764,419 129,545,050 8,339,165 2,201,436 Total current liabilities 159,754,954 169,802,808 8,369,862 6,452,748 Total liabilities Contingent consideration 12,874,737 29,803,840 - - Third parties 34,884,085 40,257,758 - - Other payables 86,239,081 85,125,661 1,200,161 824,886 Amounts owing to subsidiaries - - 5,745,007 4,293,905 Amounts owing to associate 106,450 - - - Deposits 12,446,699 12,349,572 601,879 601,879 Accruals 13,203,902 17,216,918 822,815 732,078 159,754,954 184,753,749 8,369,862 6,452,748 (a) Trade and other payables are classified as financial liabilities and measured at amortised cost except for contingent consideration in a business combination which are designated at fair value through profit or loss upon initial recognition. (b) Trade payables are non-interest bearing and the normal trade credit terms granted to the Group and the Company range from 1 to 90 days and 30 to 60 days (2018: 1 to 90 days and 30 to 60 days) respectively.