Ecowise Annual Report 2007 - ecoWise Holdings Limited

Notes to FinancialStatements31 October 200725. TRADE AND OTHER PAYABLESGroupCompany2007 2006 2007 2006$’000 $’000 $’000 $’000Trade payables:Outside parties and accrued liabilities 3,103 3,985 1,262 1,160Related parties (Note 3) 28 6 – –Subsidiaries (Note 3 and 15) – – 5 63Construction contract payables (Note 18A) – 109 – –Sub total 3,131 4,100 1,267 1,223Other payables:Related parties(Note 3) 24 19 – –Director of subsidiary (Note 3) 3 3 – –Shareholders 15 – 15 –Dividend payable (Note 26) 2,500 – 2,500 –Other payables 63 4 – –Sub total 2,605 26 2,515 –5,736 4,126 3,782 1,223The average credit period taken to settle non-related trade payables is about 14 to 30 days (2006: 14 to 30 days).The other payables are with short-term durations. The carrying amounts are assumed to be a reasonable approximationof fair values.Payables to factoring company are secured on the related receivables and bear interest at 5.00% (2006: 5.00%)per year.83