7 181 180 Notes to the Financial Statements Notes to the Financial Statements 20. TRADE AND OTHER PAYABLES Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Non-current Other payables 20.1 6,684 4,642 - - Current Trade Trade payables 20.2 419,028 272,914 - - Associate 20.3 852 1,060 - - 419,880 273,974 - - Non-trade Other payables 20.1 123,808 106,924 95 38 Supplier factoring facilities 20.4 17,366 17,933 - - Accrued expenses 20.5 88,063 65,121 2,359 3,386 Subsidiaries 20.6 - - 191,646 169,233 649,117 463,952 194,100 172,657 655,801 468,594 194,100 172,657 20.1 Other payables Non-current Under the provision of lease agreements, the Group has an obligation to dismantle and remove structures on the site and restore those sites at the end of the lease term to an acceptable condition. The liabilities for restoration are recognised at present value of the compounded future expenditure estimated using current price and discounted using a discount rate of 3.97% (2022: 3.73%). Current Included in other payables of the Group are the following amounts due to related parties: Group 2023 RM’000 2022 RM’000 Companies in which certain Directors have interests 14 89 Amount due to non-controlling interests and its related parties 65,448 64,573 65,462 64,662 The amounts due to related parties are unsecured, interest free and repayable on demand. 20. TRADE AND OTHER PAYABLES (CONTINUED) 20.2 Trade payables Included in trade payables of the Group are the following amounts due to related parties: Group 2023 RM’000 2022 RM’000 Companies in which certain directors of subsidiaries have interests 294 403 The amounts due to related parties are subject to normal trade terms. 20.3 Amount due to associate The amount due to associate is trade in nature, interest free and subject to normal trade terms. 20.4 Supplier factoring facilities Supplier factoring facility is an arrangement where the participating suppliers may elect to receive early payment of their invoices from a financial institution. Under this arrangement, the financial institution agrees to pay amounts to a participating supplier in respect of invoices owed by the Group and receives settlement from the Group at a later date. The principal purpose of this programme is to facilitate efficient payment processing and enable the willing suppliers to sell their receivables due from the Group to the financial institution before their due date. From the Group’s perspective, the arrangement does not significantly extend payment terms beyond the normal terms agreed with other suppliers that are not participating and the Group does not incur any additional interest towards the financial institution on the amounts due to the suppliers. The payments to the financial institution are included within operating cash flows because they continue to be part of the normal operating cycle of the Group. In the event the Group entities utilising the facilities or applied for further extension of payment term with the financial institution, these portion are reclassified and presented as loan and borrowings (see Note 19). 20.5 Accrued expenses Included in accrued expenses of the Group are provision for warranties amounting to RM3,101,000 (2022: RM2,688,000), relates to products sold and services rendered. The provision is based on estimates made from historical warranty data associated with similar products and services. 20.6 Amount due to subsidiaries The amount due to subsidiaries is non-trade in nature, unsecured, subject to floating interest rate of 2.88% - 3.98% (2022: 2.86% - 2.89%) per annum and repayable on demand.
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