FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 266 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 26 RECEIVABLES Group Company 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 Non-current assets Deposits 6,406 7,840 15,932 - - - Prepayment (Note i) 76,211 86,623 91,729 - - - 82,617 94,463 107,661 - - - Loss allowance: Deposits (6,406) (6,406) - - - - 76,211 88,057 107,661 - - - Current assets Trade receivables (Note ii) 1,047,593 1,119,171 1,362,649 - - - Other receivables (Note iii) 144,714 245,707 277,259 5,891 10,548 9,339 Prepayments 47,635 54,055 34,655 339 434 331 Deposits (Note iv) 80,641 59,272 46,551 11,076 8,597 12,597 Goods and services tax ( “ GST ” ) receivable 116,832 23,372 86,707 - - - 1,437,415 1,501,577 1,807,821 17,306 19,579 22,267 Loss allowance: Trade receivables (185,912) (116,022) (44,563) - - - Other receivables (12,943) - - - - - Deposits (2,699) (11,579) - - - - 1,235,861 1,373,976 1,763,258 17,306 19,579 22,267 Total 1,312,072 1,462,033 1,870,919 17,306 19,579 22,267 (Note i) Included in non-current prepayments is a security deposit amounting to RM62,120,000 (2017: 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 reclamation of land under the LLA and lease receivables which represent outstanding net present value of receipts under leasing arrangements amounting to RM6,775,000 (2017: RM14,004,000). (Note ii) Included in trade receivables are cooking oil subsidy receivable from Kementerian Perdagangan Dalam Negeri, Koperasi Dan Kepenggunaan of RM2,253,000 (2017: RM19,500,000). (Note iiii) Included in other receivables of the Group are deposit for CPO and sugar futures trading facilities amounting to RM31,421,000 (2017: RM119,084,000). (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 RM57,359,000 (31.12.2017: RM24,774,000; 1.1.2017: Nil) and deposits in relation to insurance facilities of the Group and of the Company amounting to RM5,868,000 (31.12.2017: RM5,868,000; 1.1.2017: RM9,868,000).