NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
126
THE STRAITS TRADING COMPANY LIMITED
34.
TRADE AND OTHER PAYABLES (CONT’D)
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 non-controlling shareholders of subsidiaries
The amounts due to non-controlling shareholders are:
(a)
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.
(b)
dividend declared by a subsidiary during the year and paid in 2016.
Amounts due to associates
The amounts payable to associates are non-trade related, non-interest bearing and repayable on demand.
Amounts due to a joint venture
The amount payable to a joint venture is non-trade related, non-interest bearing and repayable on demand.
Trade and other payables denominated in foreign currencies other than the functional currencies of the respective Group
entities are as follows:
Group
2015
2014
$’000
$’000
Japanese Yen
21,564
–
United States Dollar
33,084
17,840
Australian Dollar
14,895
1
Hongkong Dollar
7,344
34
