Fraser & Neave Holdings Bhd Annual Report 2019

WWW . F N . C O M . M Y 178 F R A S E R & N E A V E H O L D I N G S B H D NOTES TO THE FINANCIAL STATEMENTS 11. TRADE AND OTHER RECEIVABLES (CONTINUED) 11.1 The amounts due from subsidiaries are non-trade in nature, unsecured, receivable on demand and interest free, except for loan portion of RM465,318,000 (2018: RM348,318,000) which bears interest at KLIBOR + 1.25% (2018: KLIBOR + 1.25%) per annum. 11.2 The amounts due from related companies are trade in nature, except for non-trade portion of RM16,974,000 (2018: RM12,028,000). Non-trade amounts are unsecured, receivable on demand and interest free. Related companies refer to the subsidiaries or associates of TCC Assets Limited, Thai Beverage Public Company Limited, Berli Jucker Public Company Limited (“BJC”), Frasers Property Limited, TCC Land Co., Ltd. and TCC Corporation Limited. 11.3 The amounts due from a joint venture are trade in nature, unsecured, interest free and subject to negotiated trade term. 11.4 The amounts due from an associate are non-trade in nature, unsecured, receivable on demand and interest free. 11.5 The amounts due from other related parties are trade in nature, unsecured, interest free and subject to negotiated trade term. Other related parties refer to the subsidiaries or associates of Permodalan Nasional Berhad (“PNB”) (Note 33). 12. INVENTORIES Group Note 2019 RM’000 2018 RM’000 Finished goods 243,425 185,664 Raw materials 275,922 252,206 Packaging materials 43,473 45,679 Other inventories 12.1 15,584 13,616 578,404 497,165 Recognised in profit or loss Inventories recognised as cost of sales 2,433,639 2,390,855 Inventories written off 24 8,485 4,950 Inventories written down 24 3,333 6,626 Reversal of inventories written down 24 (433) – 12.1 Other inventories comprise engineering spares and machine consumables. 13. DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) 2019 2018 Group Nominal value ’000 Assets RM’000 Liabilities RM’000 Nominal value ’000 Assets RM’000 Liabilities RM’000 Forward foreign exchange contracts (less than 1 year) – USD 2,400 6 (55) 3,536 51 (118) – AUD 2,042 – (81) 1,420 9 (22) 6 (136) 60 (140) Forward exchange contracts are used to manage the foreign currency exposures arising from the Group’s payables denominated in currencies other than the functional currencies of Group entities. Most of the forward exchange contracts have maturities of less than one year after the end of the financial year. Where necessary, the forward contracts are rolled over at maturity.