ANNUALREPORT 2013
99
Notes to theFinancial Statements
(Cont’d)
18) TRADEPAYABLES, OTHERPAYABLESANDACCRUEDEXPENSES
Tradeandotherpayablescompriseamountsoutstanding for tradeandongoingcosts.Theaverage
credit period granted to theGroup for trade purchases ranges from 30 to 90days.
Other payables and accrued expenses consist of:
GROUP
COMPANY
2013
2012
2013
2012
RM
RM
RM
RM
Other payables
1,054,144 12,677,281
934
114,514
Accrued expenses
62,891
68,647
20,750
16,950
1,117,035 12,745,928
21,684
131,464
The trade and other payables are all denominated inRinggit Malaysia.
19) SHORTTERMBANKBORROWINGS
GROUP
2013
2012
RM
RM
Hire purchase creditor - current portion
–
11,717
Revolving credit
– 4,530,613
– 4,542,330
As at 31st December 2013, the Group has banking facility totalling RM5,000,000
(2012:RM5,000,000) obtained froma licensedbank.The facilitybears interest range from3.71%
to3.84% (2012: 3.71% to3.84%)perannumabove theBankNegaraMalaysia’s funding rateand
is secured by the following:
i)
First party legal charge over properties owned by one of the director of theCompany; and
ii)
Corporateguarantee by theCompany.
