FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 317 01 02 05 03 07 06 04 08 09 ANNUAL INTEGRATED REPORT 2018 EXAMINED OUR NUMBERS 52 PAYABLES 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 Trade payables 519,143 378,440 573,554 - - - Other payables and accruals 708,642 800,443 867,951 35,964 39,963 40,907 1,227,785 1,178,883 1,441,505 35,964 39,963 40,907 Included in other payables and accruals are: (i) Provision for Voluntary Separation Scheme ( “ VSS ” ) amounting to RM65,912,000 for the Group and RM2,474,000 for the Company (2017: RM10,964,000 for the Group and RM2,903,000 for the Company). (ii) Provision for Voluntary Early Retirement Scheme ( “ VERS ” ) for the Group amounting to RM6,806,000 (2017: RM3,446,000) due to rationalisation plans carried out by the Group. The payables are denominated as follows: 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 - Ringgit Malaysia 1,125,112 971,883 900,734 35,964 39,963 40,815 - United States Dollar 63,674 176,501 511,364 - - - - Chinese Yuen Renminbi 29,405 22,612 7,578 - - 92 - Indonesian Rupiah 5,834 3,592 16,000 - - - - Pakistan Rupee 2,601 2,622 3,571 - - - - Thai Baht 1,159 1,645 2,190 - - - - Great Britain Pound - 26 - - - - - Others - 2 68 - - - 1,227,785 1,178,883 1,441,505 35,964 39,963 40,907 The credit terms of trade payables range up to 90 days (2017: up to 90 days). The fair value of the payables approximates their carrying values, as the impact of discounting is not significant.