Annual Report - Bina Puri

Notes to and Forming Part of the Financial Statements (Cont’d)25. DEFERRED TAX LIABILITIES (Cont’d)GroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000The deferred tax liabilities comprise:Taxable temporary differences:- between net carrying amount and tax written down valueof property, plant and equipment 795 526 124 200- other temporary differences – 137 – –Less:Other deductible temporary differences (143) – – –652 663 124 20026. TRADE AND OTHER PAYABLESGroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000Trade payables 148,818 136,000 8,986 4,020Progress billings 10,449 1,722 – –Other payables 41,629 26,917 1,485 1,915Accruals 10,845 7,229 181 495Sundry deposits 452 377 – –212,193 172,245 10,652 6,430Trade payables comprise amounts outstanding from trade purchases, sub-contractors claim on contract worksperformed and retention sums payable. Progress billings represent excess of billings to purchasers of development unitsover revenue recognised in the income statement. The normal credit periods granted by trade suppliers and subcontractorsrange from 30 to 90 days whereas retention sums are payable upon the expiry of the defect liability periodsof the respective construction contracts.The defect liability periods of the construction contracts are between 12 and24 months.Other payables, accruals and deposits are from the normal business transactions of the Company.Included in trade payables of the Group is an amount of RM1,240,000 (2006: RM1,585,000) owing to a company inwhich a director of the Company has substantial financial interest.The amount owing is unsecured, interest free and hasno fixed terms of repayment.86 BINA PURI HOLDINGS BHDAnnual Report 2007