FGV Annual Report 2015

331 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING Notes to the Financial Statements For The Financial Year Ended 31 December 2015 ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 50 PAYABLES (CONTINUED) * Included in other payables and accruals as at 31 December 2015 is a deposit of RM21,876,000 received in connection with proposed divestment of 49% equity interest in FGV China Oils Ltd (previously known as Felda Iffco South China Ltd), a subsidiary of the Company for a total consideration of RMB165 million (RM109 million). The divestment is expected to be completed in 2016. The payables are denominated as follows: Group Company 2015 2014 2015 2014 RM’000 RM’000 RM’000 RM’000 - Ringgit Malaysia 989,030 1,089,169 62,109 52,642 - United States Dollar 220,914 228,959 3,508 - - Canadian Dollar 6,222 37,203 - - - Indonesian Rupiah 20,884 4,551 - - - Chinese Yuen Renminbi 38,645 - 21,876 - - Thai Baht 1,402 1,259 - - - Pakistan Rupee 2,890 4,911 - - - Great Britain Pound 1,661 50,400 - - - Others - 1,051 - - 1,281,648 1,417,503 87,493 52,642 The credit terms of trade payables range up to 90 days (2014: up to 90 days). The fair value of the payables equal their carrying value, as the impact of discounting is not significant. 51 CONSTRUCTION CONTRACTS Group 2015 2014 RM’000 RM’000 Cost incurred to date 50,348 43,704 Attributable profits less foreseeable losses 8,969 4,466 59,317 48,170 Less: Progress billings (55,759) (42,072) 3,558 6,098 Amounts due from customers on contracts (Note 27) 5,621 6,234 Amounts due to customers on contracts (Note 50) (2,063) (136) 3,558 6,098