FGV Annual Report 2017

ANNUAL INTEGRATED REPORT 2017 FINANCIAL STATEMENTS 253 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 25 RECEIVABLES Group Company 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 Non-current assets Deposits 7,840 15,932 - - Prepayment (Note i) 86,623 91,729 - - 94,463 107,661 - - Provision for impairment: Deposits (6,406) - - - 88,057 107,661 - - Current assets Trade receivables (Note ii) 1,107,185 1,354,161 - - Amounts due from customers on contracts (Note 50) 14,926 357 - - Other receivables (Note iii) 245,707 277,259 10,548 9,339 Prepayments 54,055 34,655 434 331 Deposits (Note iv) 59,272 46,551 8,597 12,597 Goods and services tax (“GST”) receivable 23,372 86,707 - - 1,504,517 1,799,690 19,579 22,267 Provision for impairment: Trade receivables (116,022) (44,563) - - Deposits (11,579) - - - 1,376,916 1,755,127 19,579 22,267 Total 1,464,973 1,862,788 19,579 22,267 (Note i) Included in non-current prepayments is a security deposit amounting to RM62,120,000 (2016: RM62,120,000) paid to a significant shareholder under the LLA dated 1 November 2011, which shall be set off towards any payment of the lease amount prior to expiry or sooner upon reclaration of land under the LLA and lease receivables which represent outstanding net present value of receipts under leasing arrangements amounting to RM11,328,000 (2016: RM14,004,000). (Note ii) Included in trade receivables are cooking oil subsidy receivable from Kementerian Perdagangan Dalam Negeri, Koperasi Dan Kepenggunaan of RM19,500,082 (2016: RM14,132,000). In previous financial year, cooking oil subsidy receivable from Malaysian Palm Oil Board was RM17,258,000. (Note iii) Included in other receivables of the Group are deposit for CPO and sugar futures trading facilities amounting to RM119,084,000 (2016: RM115,445,000). (Note iv) Included in current deposits of the Group are deposit for Provisional Pricing Agreement (“PPA”) entered into with a supplier for precious metals for use in production amounting to RM24,774,000 (2016: Nil), deposits for purchases of CPO of the Group amounting to RM2,700,000 (2016: RM11,315,000) and deposits in relation to insurance facilities of the Group and of the Company amounting to RM5,868,000 (2016: RM9,868,000).