Tropicana Corporation Berhad Annual Report 2019

33. TRADE AND OTHER PAYABLES (CONT’D.) (a) Trade payables (i) Trade payables (non-current) This amount relates to payables arising from the acquisition of land by a subsidiary of the Group, which is payable over 20 years. (ii) Trade payables (current) The normal trade credit term granted to the Group ranges from 30 to 90 days (2018: 30 to 90 days) from the date of invoice and progress claim. The retention sum is repayable upon expiry of the defect liability period of 12 to 18 months (2018: 12 to 18 months). (b) Other payables (i) Security retainers Security retainers are funds collected from members of the golf and country resort of the Group who joined prior to January 1993. These security retainers are refundable to the members on cessation of membership, i.e. upon the expiry of the term of the membership license on 9 October 2051 or upon revocation (i.e. termination of the membership at its discretion at any time before the expiry date). Group 2019 2018 RM’000 RM’000 At 1 January 2,101 1,941 Unwinding of discount 551 170 Termination (420) (10) At 31 December 2,232 2,101 (ii) Sinking fund reserves Group 2019 2018 RM’000 RM’000 At 1 January 6,161 5,272 Additions 1,798 1,520 Claims made during the financial year (83) (631) At 31 December 7,876 6,161 Sinking fund of the Group is established for the purpose of covering periodic major repairs or capital replacements costs in the golf and country resort of the Group. A fraction of 10% of monthly subscription fees received from members during the year are credited to this reserve. For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 226 About Tropicana Our Strategic Performance Our Leadership