Eng - IOI Group

Notes To The Financial Statements cont’d50. ANALYSIS OF LIABILITIES PAYABLE AND DEBTS RECEIVABLEThe liabilities payable and debts receivable by the Group, estimated by the Directors are as follows:Group2007 2006RM’000 RM’000(restated)Liabilities PayableAmount due to an associate 2,058 2,739Trade payables 393,035 243,674Other payables and accruals 394,714 272,266Progress billings 28,203 6,733Bank overdrafts 7,013 7,897Short term borrowings 1 167,411 59,212Taxation 78,684 22,875Term loans 688,503 163,6581 st Exchangeable Bonds - 439,1632 nd Exchangeable Bonds 1,051,107 -Guaranteed Notes 1,717,323 1,825,854Club membership deposits 13,601 14,9044,541,652 3,058,975Less:Short term funds 1,879,345 460,633Deposits with financial institutions 507,070 418,595Cash and bank balances 341,581 349,1101,813,656 1,830,637(Receivable)/Payable as follows:Not later than 1 year 2 (1,581,608) (518,498)Later than 1 year and not later than 5 years 1,223,565 508,377Later than 5 years 2,171,699 1,840,7581,813,656 1,830,637Debts ReceivableTrade receivables 935,994 571,384Other receivables, deposits and prepayments 160,066 120,203Accrued billings 101,626 96,185Amount due from customers on contracts 2,575 55Amount due from jointly controlled entity 160,357 -Tax recoverable 95,406 144,2011,456,024 932,028Receivable as follows:Not later than 1 year 1,295,667 932,028Later than 1 year 160,357 -1,456,024 932,028Notes:1 Included in short term borrowings of RM 167,411,000 (2006 - RM59,212,000) are revolving credit facilities of RM 30,664,000 (2006- RM28,935,000) and trade financing of RM 136,747,000 (2006 - RM30,277,000). Even though these facilities have been classified aspayable not later than 1 year based on accounting requirements, the Directors are however of the view that the facilities form part of thebasic financing tools of the Group and therefore significant portion of these facilities will continue to be available in the foreseeable future.2 The liabilities payable not later than 1 year is net of short term funds, deposits with financial institutions and cash and bank balances.245ANNUAL REPORT 2007IOI Corporation Berhad