Tropicana Corporation Berhad Annual Report 2019

23. TRADE AND OTHER RECEIVABLES (CONT’D.) (b) Other receivables (cont’d.) (ii) Security retainers accumulation fund Group 2019 2018 RM’000 RM’000 At 1 January 4,971 4,701 Unrealised returns (Note 9) 216 281 5,187 4,982 Less: Amortisation for the financial year (Note 9) (11) (11) At 31 December 5,176 4,971 The security retainers accumulation fund of the golf and country resort of the Group relates to the unamortised portion of the single premium paid for the purchase of a Group Endowment with Profits’ policy from a local insurer in 1994 and the unrealised returns accrues annually to this policy on a cumulative basis. The total accumulated returns together with the insured sum will only be received upon maturity of the said policy on 2 October 2051. The purpose of this scheme is to provide the Group with funds to repay the security retainers received from members of the golf and country resort of the Group, who were registered prior to January 1993, at the end of their membership license term on 9 October 2051. (iii) Amounts due from subsidiaries and joint ventures The amounts due from subsidiaries of the Company amounting to RM80,775,234 (2018: RM350,908,010) bore interest ranging from 4.93% to 7.45% (2018: 4.93% to 7.45%) per annum during the financial year. The balances of the amount are non-trade in nature, unsecured, non-interest bearing and have no fixed terms of repayment except for these amounts classified as non-current which are not expected to be repaid within the foreseeable future. Further details on related party transactions are disclosed in Note 36. The amounts due from joint ventures are non-trade in nature, unsecured, non-interest bearing and have no fixed terms of repayment. (iv) Included in deposits of the Group are: (a) deposits paid for the acquisition of land and buildings amounting to RM38,612,000 (2018: RM6,652,000); and (b) deposits paid for subscription of shares amounting to RM48,400,000 (2018: RM nil.) (v) The Group and the Company have no significant concentration of credit risk included under sundry receivables that may arise from exposures to a single debtor or to group of debtors except for amounts due from subsidiaries. For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 206 About Tropicana Our Strategic Performance Our Leadership