275 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 ACCOUNTABILITY (FINANCIAL STATEMENTS) 35. Trade and other payables Group Company 2023 RM million 2022 RM million 2023 RM million 2022 RM million Current: Trade payables Third parties (Note (a)) 462 202 - - Other payables Due to directors 15 22 15 22 Due to subsidiaries (Note (f)) - - 203 196 Sundry payables (Note (c)) 46 24 4 1 Accruals (Note (c)) 691 523 33 14 Contract liabilities (Note (b)) 928 37 - - Deposits (Note (d)) 76 - - - 1,756 606 255 233 2,218 808 255 233 Non-current: Other payables Sundry payables (Note (c)) 3 19 - - Due to subsidiaries (Note (c)(iii)) - - 880 816 Due to non-controlling interests (Note (e)) 203 192 - - Contract liabilities (Note (b)) 257 277 - - Provisions for decommissioning 2 2 - - Deposits - 21 - - 465 511 880 816 Total trade and other payables 2,683 1,319 1,135 1,049 (a) Trade payables are non-interest bearing. (b) Contract liabilities (i) Charter income received in advance of RM281 million (2022: RM314 million) in relation to FPSO JAK, which is deferred and amortised on a straight-line basis over the contract period. As at 31 January 2023, the amounts classified as current and non-current were RM30 million and RM251 million (2022: RM30 million and RM277 million) respectively. The Group recognised revenue of RM31 million (2022: RM29 million) during the year, which was included in the contract liabilities as at 31 January 2022. (ii) Included in current contract liabilities is an amount of RM897 million (2022: NIL) relating to consideration received from customers for EPCIC contracts where progress billings were issued ahead of the provision of services. (c) Included in the Group’s sundry payables and accruals are amounts relating to expenditures incurred for the construction of FPSOs of RM536 million (2022: RM380 million).
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