NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
34 TRADE AND OTHER PAYABLES
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Current:
Trade payables
9,311
15,975
56
2,735
Advance receipts and billings
360
248
14
12
Amounts due to associates
9
–
3
–
9,680
16,223
73
2,747
Other payables
Amounts due to subsidiaries
–
–
528,306
236,282
Amounts due to a non-controlling shareholder of a
subsidiary
21,403
–
–
–
Accrual for development cost
152
1,899
–
–
Accrual for other charges
7,869
11,355
1,820
1,669
Other deposits
2,514
2,784
370
313
Severance benefit obligations
–
21
–
–
Amounts due to associates
5,349
1,315
832
–
Amounts due to joint ventures
14,684
17,244
–
–
Others
15,829
17,129
3,109
3,077
67,800
51,747
534,437
241,341
Trade and other payables
77,480
67,970
534,510
244,088
Trade and other payables
77,480
67,970
534,510
244,088
Less: Advance receipts and billings
(360)
(248)
(14)
(12)
Severance benefit obligations
–
(21)
–
–
77,120
67,701
534,496
244,076
Add: Other non-current liabilities (note 33)
64
374
–
–
Loans and borrowings (note 32)
466,272
429,964
–
224,357
Total financial liabilities carried at amortised cost
543,456
498,039
534,496
468,433
Trade payables
The Group’s normal trade credit ranges from cash payment to 90-day terms.
Amounts due to subsidiaries
The amounts payable to subsidiaries are non-trade related, unsecured, non-interest bearing and repayable on demand.
Amounts due to a non-controlling shareholder of a subsidiary
The amounts due to a non-controlling shareholder of a subsidiary are related to its share of funding to the Group’s 89.5%
owned subsidiary, Straits Real Estate Pte. Ltd.. The amounts are unsecured, bear interest at 2.8% per annum and repayable
on demand.
Amounts due to associates
The amounts payable to associates are non-trade related, non-interest bearing and repayable on demand.
135
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
