Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 166 28 TRADE AND OTHER PAYABLES Group Company 2017 2016 2017 2016 RM’000 RM’000 RM’000 RM’000 Current Trade payables 248,090 118,059 - - Deferred revenue 6,423 3,703 - - Advances from customer 85,166 - - - Other payables and accruals 278,321 207,783 11,603 12,303 618,000 329,545 11,603 12,303 Non-current Advances from customer 486,236 92,510 - - Other liabilities 5,693 4,991 - - 491,929 97,501 - - Included within other payables is an accrual of nil (2016: RM3,251,000) in respect of management performance incentive plan following achievement of targets set for the financial year 2014. This is a five year plan that commenced in financial year 2012 and ended in financial year 2016. The plan has independent targets for each of the five years. No incentive payments were payable for financial years 2012, 2013, 2015 and 2016 as the targets for those years were not met. The Group’s trade payables exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk, based on carrying amounts as at the end of the financial year, were: Group 2017 RM’000 2016 RM’000 - United States Dollar 27,863 8,523 - Singapore Dollar 5,917 3,171 - Indonesian Rupiah 5,564 3,158 - British Pound 2,406 100 - Euro Dollar 2,123 10,483 - Japanese Yen 1,756 3,463 - United Arab Emirates Dirham 1,528 671 - Australian Dollar 121 133 - China Renminbi - 101 47,278 29,803