Sunny Tew

NOTES TO THE FINANCIAL STATEMENTSFOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)10. Trade and other payable (Continued)Trade payables are non-interest bearing and are normally settled on 30 to 60 days’ term.The non-trade amounts due to subsidiaries and related parties are unsecured, interest-free and repayable on demand.Trade and other payables are denominated in the following currencies:The GroupThe Company2007 2006 2007 2006$ $ $ $United States Dollar 31,026,349 20,454,913 29,099,262 20,454,914Ringgit Malaysia 1,127,027 993,246 - -Singapore Dollar 42,428,845 21,986,659 42,216,455 21,637,278Chinese Renminbi 785,056 3,783 - -75,367,277 43,438,601 71,315,717 42,092,19211. Finance lease payablesAs at balance sheet date, the Group has obligations under finance leases that are repayable as follows:The Group2007Minimum leasepaymentsFuture financechargesPresent value oflease payments$ $ $Within one financial year 337,104 (38,900) 298,204After one financial year but less than five financial years 647,534 (62,220) 585,314984,638 (101,120) 883,5182006Within one financial year 367,782 (40,260) 327,522After one financial year but less than five financial years 834,553 (83,489) 750,6641,202,335 (123,749) 1,078,186Lease terms range from two to seven years with options to purchase at the end of the lease term. Interest is payable at average effective interest rates ranging from 4.67%to 6.60% (2006: 3.3% to 5.7%) per annum.HG METAL MANUFACTURING LIMITED ANNUAL REPORT 200773