33. TRADE AND OTHER PAYABLES (CONT’D.) (b) Other payables (i) Security retainers S ecurity 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 2022 2021 RM’000 RM’000 At 1 January 2,591 2,408 Unwinding of discount 367 273 Termination (180) (90) At 31 December 2,778 2,591 (ii) Sinking fund reserves Group 2022 2021 RM’000 RM’000 At 1 January 7,113 9,845 Additions 1,792 1,739 Claims made during the financial year (585) (4,471) At 31 December 8,320 7,113 S inking 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. (iii) Amounts due to subsidiaries, non-controlling interests and joint venture A mounts due to subsidiaries, non-controlling interests and joint venture are mainly unsecured, non-interest bearing and repayable on demand. (iv) Other payables Other payables are mainly unsecured, non-interest bearing and have no fixed terms of repayment. (v) Amounts due to shareholders Amounts due to shareholders are mainly unsecured, non-interest bearing and repayable on demand. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 260 ANNUAL REPORT 2022
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