PRG Holdings Berhad Annual Report 2019

ANNUAL REPORT 2019 157 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 24. TRADE AND OTHER PAYABLES (continued) (c) Other payables (i) In the previous financial year, non-current and current other payables of the Group included amounts of RM1,289,000 and RM8,742,000 respectively, which represent the present value of the remaining unpaid amount for the purchase consideration of the development land as disclosed in Note 18(b) to the financial statements. (ii) Included in other payables of the Group is an amount of RM9,308,000 (2018: RM10,569,000), which represents the balance of the purchase consideration of the development land as disclosed in Note 18(c) to the financial statements. (iii) Included in other payables of the Group is an amount of RM54,724,000 (2018: nil), which represents the remaining unpaid amount for the purchase consideration of biological assets as disclosed in Note 19(f) to the financial statements. (iv) In the previous financial year, included in other payables of the Group was an amount of RM38,157,000 paid by the underwriter pursuant to the Promoter and Underwriter Agreement. (d) Included in accruals of the Group are provision for restoration cost amounting to RM676,000 (2018: nil), which is in respect of the obligation to dismantle and remove refurbishments on the premises and restore them at the end of the lease term to an acceptable condition. The liabilities for restoration are recognised at present value of the compounded future expenditure estimated using current price and discounted using a discount rate ranged from 4.80% to 7.50% (2018: nil). A reconciliation of the provision for restoration cost is as follows: Group 2019 RM’000 At 1 January - Effects of adoption of MFRS 16 (Note 5.1) 41 Provision made during the year 602 Unwinding of discount 33 At 31 December 676 (e) The currency exposure profile of trade and other payables are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 105,448 148,723 11,039 4,617 United States Dollar 1,626 1,362 - - Vietnamese Dong 2,487 3,301 - - Hong Kong Dollar 17,481 308 226 - Singapore Dollar 2,371 30 - - Chinese Renminbi 4,168 - - - 133,581 153,724 11,265 4,617 (f) Information on financial risks of trade and other payables is disclosed in Note 37 to the financial statements.