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ASIA MEDIA GROUP Berhad
Annual Report 2016
108
Notes to the Financial Statements
(continued)
14. Trade and other payables
Group
Company
2016
2015
2016
2015
RM
RM
RM
RM
Trade payables
Third parties
955,210
339,710
–
–
Other payables
Accruals
2,129,209 1,893,756
35,300
23,300
Amount owing to a Director
767,405 1,355,060
2
2
Amount owing to a subsidiary
–
– 2,184,861
–
Sundry payables
143,902
821,048
79,723
64,307
3,040,516 4,069,864 2,299,886
87,609
Trade and other payables
3,995,726 4,409,574 2,299,886
87,609
Less: Accruals
(2,129,209) (1,893,756)
(35,300)
(23,300)
Add: Short term borrowings
1,500,000 1,500,000
–
–
Total financial liabilities
carried at amortised cost
3,366,517 4,015,818 2,264,586
64,309
Trade payables are non-interest bearing and the normal trade credit terms granted to the Group
ranged from 30 to 90 days (2015: 30 to 90 days).
Amounts owing to a Director is unsecured, interest-free and has no fixed terms of repayment.
Amounts owing to a subsidiary are mainly in respect of advances and payments made on behalf.
These balances are unsecured and interest-free.
Included in accruals is the provision for minimum guaranteed sum of Nil (2015: RM1,822,500)
arose from material litigation as disclosed in note 28 to the financial statements.