Annual Report 2012 - IOI Group

NOTES TO THEFINANCIAL STATEMENTS36. TRADE AND OTHER PAYABLESGroupCompany2012RM’0002011RM’0002012RM’0002011RM’000Trade payables (Note 36.1) 627,793 646,120 11,145 9,571Other payables and accruals (Note 36.2) 476,694 527,154 72,275 85,587Progress billings 3,305 16,413 – –1,107,792 1,189,687 83,420 95,15836.1 Trade payablesIncluded in trade payables of the Group are retention monies of RM74,489,000 (2011 – RM61,256,000).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.36.2 Other payables and accrualsGroupCompany2012RM’0002011RM’0002012RM’0002011RM’000Advances from minority shareholders – 2,452 – –Other payables 212,128 265,986 11,159 11,721Customer deposits and other deposits 33,587 28,364 659 604Accruals 230,979 230,352 60,457 73,262476,694 527,154 72,275 85,587Included in other payables of the Group is land cost payable of nil (2011 – RM2.6 million).206IOI CORPORATION BERHADAnnual Report 2012