Change - S P Setia Berhad

123
S P Setia Berhad Group
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2008
31. OTHER PAYABLES AND ACCRUALS
Group
Company
2008 2007 2008 2007
RM’000 RM’000 RM’000 RM’000
Redeemable serial bonds interest payable 4,411 – 4,411 –
Unsecured advances 8,774 12,493 – –
Interest accrued 1,376 961 – –
Contract advances received (see note 16) 10,000 1,149 10,000 –
Deposits received
– from disposal of development lands – 5,619 – –
– from Agreement to Lease (see note 21) 3,510 3,510 – –
– from others 3,285 2,289 4 6
Unpaid consideration for acquisition of development lands 47,731 – – –
Unpaid consideration for property, plant and equipment
acquired (see note 42) 50 325 – –
Other sundry payables and accruals 38,810 40,166 1,809 3,588
117,947 66,512 16,224 3,594
The unsecured advances are from a minority shareholder of certain subsidiary companies and a joint venture partner. These
advances are interest free and payable on demand.
32. SHORT TERM BORROWINGS
Secured:
Group
Company
2008 2007 2008 2007
RM’000 RM’000 RM’000 RM’000
Current portion of long term loans (see note 26) 33,647 79,831 – –
Revolving credit 30,700 30,000 – –
Unsecured:
Revolving credit – 9,000 – –
Bankers’ acceptance 1,758 – – –
66,105 118,831 – –
The secured revolving credit of the Group is secured by fixed charges over various land belonging to the Group as indicated in
notes 3, 4, 5 and 15 above.
The revolving credits bear interests at 0.75% to 1.00% above the lender banks’ cost of funds. The effective interest rates are
4.62% to 5.08% (2007 : 4.49% to 5.10%) per annum.
The bankers’ acceptance of the Group bear interest at 4.85% (2007 : Nil) per annum.