Fraser & Neave Holdings Bhd Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 06 Financial Statements 185 NOTES TO THE FINANCIAL STATEMENTS 19. TRADE AND OTHER PAYABLES Group Company Note 2019 RM’000 2018 RM’000 Restated 2019 RM’000 2018 RM’000 Current Trade payables 268,411 250,386 – – Other payables – Accrued expenses 51,346 49,223 965 735 – Advertising and promotion 72,288 63,301 – – – Contract liabilities 19.1 54,420 43,051 – – – Deposits 19.2 22,087 18,293 – – – Distributor incentives, discounts and rebates 39,859 25,808 – – – Interest 1,006 4,441 – – – Staff costs 50,892 42,937 – – – Sundry creditors 49,895 45,122 – – – Others 51,739 39,862 – – 393,532 332,038 965 735 Amounts due to related parties – Subsidiaries 19.3 – – 3,581 97 – Related companies 19.4 46,458 40,198 31 26 – Associate 19.5 – 8 – – – Other related parties 19.6 10,600 4,600 – – 57,058 44,806 3,612 123 719,001 627,230 4,577 858 19.1 Certain liabilities arose as a result of the Group’s contracts with the customers in line with MFRS 15, Revenue from Contracts with Customers as analysed below. These amounts were stated as part of trade and other payables in prior year when revenue was reported under MFRS 118, Revenue . Prior year amounts have been regrouped to align with current year presentation. This does not have any impact on the results. Group 2019 RM’000 2018 RM’000 Trade incentives 50,844 42,118 Customers’ down payments 3,576 933 54,420 43,051 19.2 Included in deposits are amounts received from dealers which bear interest at rate of 3.15% (2018: 3.25%) per annum. 19.3 The amounts due to subsidiaries are non-trade in nature, unsecured, repayable on demand and interest free. 19.4 The amounts due to related companies are trade in nature, except for non-trade portion for the Group and the Company amounting to RM19,766,000 (2018: RM15,608,000) and RM31,000 (2018: RM26,000) respectively. Non-trade amounts are unsecured, repayable on demand and interest free. Related companies refer to the subsidiaries or associates of TCC Assets Limited, Thai Beverage Public Company Limited, BJC, Frasers Property Limited, Southeast Group Co., Ltd. and TCC Corporation Limited. 19.5 The amount due to an associate in the prior year was trade in nature, unsecured, interest free and subject to negotiated trade term. 19.6 The amounts due to other related parties are trade in nature, except for non-trade portion of RM390,000 (2018: RM Nil). Non-trade amounts are unsecured, repayable on demand and interest free. These parties are related to PNB (Note 33).