FGV Annual Report 2016

FELDA GLOBAL VENTURES HOLDINGS BERHAD 320 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 51 PAYABLES Group Company 2016 RM'000 2015 RM'000 2016 RM'000 2015 RM'000 Trade payables 574,290 426,454 - - Other payables and accruals 885,370 853,131 40,907 87,493 Amounts due to customers on contracts (Note 52) 580 2,063 - - 1,460,240 1,281,648 40,907 87,493 Included in the other payables is provision for Voluntary Early Retirement Scheme ("VERS") amounting to RM13,135,000 (2015: RM Nil) due to rationalisation plan that carried out by Group during the financial year. The payables are denominated as follows: Group Company 2016 RM'000 2015 RM'000 2016 RM'000 2015 RM'000 - Ringgit Malaysia 919,469 989,030 40,815 62,109 - United States Dollar 511,364 220,914 - 3,508 - Canadian Dollar - 6,222 - - - Indonesian Rupiah 16,000 20,884 - - - Chinese Yuen Renminbi 7,578 38,645 92 21,876 - Thai Baht 2,190 1,402 - - - Pakistan Rupee 3,571 2,890 - - - Great Britain Pound - 1,661 - - - Others 68 - - - 1,460,240 1,281,648 40,907 87,493 The credit terms of trade payables range up to 90 days (2015: up to 90 days). The fair value of the payables equals their carrying value, as the impact of discounting is not significant.