16) TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES
Trade and other payables comprise amounts outstanding for trade and ongoing costs. The
average credit period granted to the Group for trade purchases ranges from 30 to 90 days.
Other payables and accrued expenses consist of:
GROUP
COMPANY
2014
2013
2014
2013
RM
RM
RM
RM
Other payables
96,711 1,054,144
43,200
934
Accrued expenses
69,179
62,891
20,750
20,750
165,890
1,117,035
63,950
21,684
The trade and other payables are all denominated in Ringgit Malaysia.
17) SHORT TERM BANK BORROWING
GROUP
2014
2013
RM
RM
Revolving credit
1,500,000
–
As at 31st December 2014, the Group has banking facility totalling RM5,000,000 (2013:
RM5,000,000) obtained from a licensed bank. The facility bears interest range from 2.90% to
3.41% (2013: 3.71% to 3.84%) per annum above the Bank Negara Malaysia’s funding rate and
is secured by the following:
i)
First party legal charge over properties owned by one of the directors of the Company;
and
ii)
Corporate guarantee by the Company.
18) AMOUNT OWING TO DIRECTOR
The amount owing to director, which arose mainly from expenses paid on behalf and advances
given, is unsecured, interest-free and repayable on demand.
Asia Media Group Berhad Annual Report 2014
110
NOTES TO THE FINANCIAL STATEMENTS
(Cont’d)
