26. TRADE AND OTHER PAYABLES (CONT’D.) (a) Trade payables Trade payables are non-interest bearing and the normal trade credit terms granted to the Group ranges from 14 to 90 days (2020: 14 to 90 days). (b) Other payables and amounts due to related parties The non-trade balances due to holding company, subsidiaries, fellow subsidiaries, associates and joint ventures arose in the normal course of business. (c) Other non-current liabilities and provisions Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 At 1 January 1,187,960 43,566 22,848 42,928 Arose during the year 206,811 1,215,213 10,572 – Utilised (100) (20,803) – (20,169) Currency translation differences 44,302 (50,016) 897 89 At 31 December 1,438,973 1,187,960 34,317 22,848 Analysed as: Due within 12 months 1,262,999 1,187,960 23,673 22,848 Due after 12 months 175,974 – 10,644 – 1,438,973 1,187,960 34,317 22,848 Other non-current liabilities and provisions comprise provision for litigation claims, cost provisions for the construction of a FPSO and put option liabilities. 27. SHARE CAPITAL AND TREASURY SHARES Group and Corporation Number of shares Amount Share Treasury Share Treasury Capital Shares Capital Shares ‘000 ‘000 RM’000 RM’000 (i) At 1 January/31 December 2021 4,463,794 (47) 8,923,262 (271) At 1 January/31 December 2020 4,463,794 (47) 8,923,262 (271) (i) The Group has one issued special preference share of RM1. The special preference share, which may only be held by the Ministry of Finance (Incorporated) (“MoF”) or its successors or any Minister, representative, or any person acting on behalf of the Government of Malaysia, carries rights as provided in the Corporation’s Constitution. Certain matters, in particular the alterations of specified Rules in the Constitution, require the prior approval of the holder of the special preference share. The holder of the special preference share is not entitled to any dividend nor to participate in the capital distribution upon dissolution of the Corporation but shall rank for repayment in priority to all other shares. The share does not carry any right to vote at General Meetings but the holder is entitled to attend and speak at such meetings. 28. OTHER RESERVES Other Put Currency Revaluation Capital Capital Option Statutory Hedging Translation Reserve Reserve Reserve Reserve Reserve Reserve Reserve Total RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 28(a) 28(b) 28(c) 28(d) 28(e) 28(f) 28(g) Group At 1 January 2021 1,357 435,199 99,299 – 3,161 (577,475) 5,160,464 5,122,005 Currency translation differences: Group – – – – – – 1,092,169 1,092,169 Associates – – – – – – (15) (15) Joint ventures – – – – – – 15,333 15,333 Fair value loss on cash flow hedges: Group – – – – – 433,890 – 433,890 Joint ventures – – – – – 7,226 – 7,226 Liquidation of a joint venture – – – – (208) – (349) (557) Disposal of interest in joint ventures – – – – – – (5,836) (5,836) Dilution of interest in subsidiaries – – – (10,572) – – – (10,572) At 31 December 2021 1,357 435,199 99,299 (10,572) 2,953 (136,359) 6,261,766 6,653,643 At 1 January 2020 1,357 435,199 99,299 – 3,161 (159,929) 5,681,164 6,060,251 Currency translation differences: Group – – – – – – (509,186) (509,186) Associates – – – – – – (11) (11) Joint ventures – – – – – – (11,503) (11,503) Fair value loss on cash flow hedges: Group – – – – – (387,618) – (387,618) Joint ventures – – – – – (29,928) – (29,928) At 31 December 2020 1,357 435,199 99,299 – 3,161 (577,475) 5,160,464 5,122,005 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 MISC Berhad 396 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 397 FINANCIAL STATEMENTS FINANCIAL STATEMENTS
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