Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 97 19. Trade and other payables Group Company 30.6.2021 31.12.2019 30.6.2021 31.12.2019 RM’000 RM’000 RM’000 RM’000 Non-current Other payables 63,523 57,748 - - Current Trade payables and accruals 360,110 178,063 254 192 Other payables and accruals 133,035 223,561 725 2,969 Amount due to subsidiaries - - 13,189 193,922 Amount due to associates 1,049 1,033 - - 494,194 402,657 14,168 197,083 557,717 460,405 14,168 197,083 (a) The amount due to subsidiaries are unsecured, subject to interest at range of 4.89% to 6.99% (2019: 4.95% to 5.30%) and are repayable on demand. (b) The amount due to associates are unsecured, interest free and are repayable on demand. (c) Trade and other payables denominated in foreign currencies comprise the following amounts. Group Company 30.6.2021 31.12.2019 30.6.2021 31.12.2019 RM’000 RM’000 RM’000 RM’000 USD 179,292 134,840 - - (d) In the previous financial year, the Group through its subsidiary, SDGB had entered into a Share Sale Agreement (“SSA”) with a third party vendor on 16 October 2019 to subscribe 6,500 ordinary shares of Get Development Sdn. Bhd. (“GDSB”) representing 65% equity interest for a consideration of RM50 million. Resulting from this transaction, GDSB had become a subsidiary of the Group on 16 October 2019. (e) In addition, both SDGB and the third party vendor have a call and a put option respectively which allows the third party vendor to sell his remaining 35% equity interest in GDSB to SDGB at a future date at an exercisable option price of RM200 million. As at 30 June 2021, the Group has recognised the option liability of RM63.5 million (2019: RM57.8 million). (f) Included in other payables of the Group is an amount of RM25,962,614 (2019: RM61,316,620) which arose from non-recourse Receivables Purchase Framework Agreement with a licensed bank.