Page 144 - S P Setia Annual Report 2013
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142 | Financial Statements S P SETIA BERHAD GROUP Annual Report 2013





NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2013 (CONT’D)






17. inVentORieS
Group
2013 2012
Rm’000 Rm’000

At cost:
Stock of completed properties 39,007 19,993
Raw materials 4,067 3,190
Work-in-progress 3 4
Finished goods - 141
Consumable goods 167 224
43,244 23,552



18. accRUeD BillinGS/PROGReSS BillinGS

Group
2013 2012
Rm’000 Rm’000

Revenue recognised in proft or loss to-date 9,832,853 8,581,822
Progress billings to-date (10,520,621) (8,863,925)
(687,768) (282,103)


Accrued billings 122,932 132,705
Progress billings (810,700) (414,808)
(687,768) (282,103)



19. tRaDe ReceiVaBleS

Group company
2013 2012 2013 2012
Rm’000 Rm’000 Rm’000 Rm’000

Gross progress billings receivable 465,715 364,179 502 502
Gross retention sums receivable 164,314 89,962 891 891
Other gross receivables 19,590 20,427 5,959 5,959
Total gross receivables 649,619 474,568 7,352 7,352
Allowance for doubtful debts (3,048) (3,120) (1,393) (1,393)

646,571 471,448 5,959 5,959

The progress billings are due within 14 to 90 days as stipulated in construction contracts and sale and purchase agreements. The retention
sums are due upon the expiry of the defect liability period stated in the respective construction contracts or sale and purchase agreements.
The defect liability periods range from 6 to 24 months.
Other gross receivables are collectible within 14 to 90 days.
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