Eng - IOI Group

Notes To The Financial Statements cont’d36. DEFERRED TAXATION cont’dDeferred tax assetsGroup2007 2006RM’000 RM’000Unabsorbed tax losses 48,007 64,544Unutilised capital allowances 9,607 9,188Retirement benefit obligations 3,660 3,198Other deductible temporary differences 17,719 18,45978,993 95,389Deferred tax assets have not been recognised in respect of the following items:Group2007 2006RM’000 RM’000Unabsorbed tax losses 31,360 42,911Unutilised capital allowances 7,964 6,196Other deductible temporary differences 74 77639,398 49,88337. TRADE AND OTHER PAYABLESGroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000Trade payables (Note 37.1) 393,035 243,674 1,526 1,564Other payables and accruals (Note 37.2) 394,626 272,266 23,990 25,820Progress billings 28,203 6,733 - -Amount due to customers on contracts (Note 37.3) 88 - - -815,952 522,673 25,516 27,38437.1 Trade payablesIncluded in trade payables of the Group are retention monies of RM51,284,000 (2006 - RM48,287,000).Credit terms of trade payables vary from 14 to 60 days from date of invoice and progress claim. The retention monies arerepayable upon expiry of the defect liability period of 12 to 18 months.IOI Corporation BerhadANNUAL REPORT 2007 212