PRG Holdings Berhad Annual Report 2018

5. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs (continued) 5.2 Explanation of transition to MFRSs (continued) (a) Reconciliation of financial position and equity of the Group (continued) Previously Restated Group reported Effects of Effects of under under FRSs MFRS 15 MFRS 9 MFRSs 1 January 2017 RM’000 RM’000 RM’000 RM’000 Non-current liabilities Borrowings 17,201 - - 17,201 Trade and other payables 11,580 - - 11,580 Deferred tax liabilities 1,089 - - 1,089 29,870 - - 29,870 Current liabilities Borrowings 33,751 - - 33,751 Trade and other payables 100,242 (8,478) - 91,764 Contract liabilities - 22,365 - 22,365 Current tax liabilities 669 - - 669 134,662 13,887 - 148,549 Total liabilities 164,532 13,887 - 178,419 Total equity and liabilities 287,457 13,799 (255) 301,001 31 December 2017 Non-current assets Property, plant and equipment 44,495 - - 44,495 Intangible assets 1,409 - - 1,409 Investments in associates 5,447 - - 5,447 Investment in a joint venture 1,109 - - 1,109 Deferred tax assets 1,710 3,967 - 5,677 54,170 3,967 - 58,137 Current assets Property development costs 167,959 (167,959) - - Inventories 21,481 189,527 - 211,008 Trade and other receivables 93,982 (3,181) (703) 90,098 Contract assets - 29,695 - 29,695 Current tax assets 1,240 - - 1,240 Cash and bank balances 42,023 - - 42,023 326,685 48,082 (703) 374,064 Total assets 380,855 52,049 (703) 432,201 99 PRG HOLD I NGS BERHAD notes to the financial statements 31 December 2018 (continued)