Page 155 - S P Setia Annual Report 2016
P. 155

S P Setia Berhad Group                                                                                153
          Annual Report 2016




                                                                               Notes To The Financial Statements

                                                                                  For The Financial Year Ended 31 December 2016

          9.   AMOUNT OWING BY/TO SUBSIDIARY COMPANIES (CONT’D.)

              Amounts owing by subsidiary companies included under current assets

                                                                                                   Company
                                                                                                  2016          2015
                                                                                                RM’000        RM’000
               Trade accounts:
               -  management fee                                                                     -         16,143
               -  staff secondment fee                                                            1,986         5,965
               -  retention sums receivable                                                          -           807
               -  allowance for doubtful debts                                                       -           (795)
                                                                                                  1,986        22,120
               Unsecured advances:
               -  bearing interest at 4.70% to 8.00% (2015: 4.34% to 8.85%) per annum           177,781       256,045
               -  interest free                                                                 529,531       441,854
               -  unquoted redeemable cumulative preference shares                              50,263         21,673
                                                                                                759,561       741,692

              The trade accounts are expected to be settled within the normal credit periods. Unsecured advances are repayable on demand.

              Amounts owing to subsidiary companies included under current liabilities

                                                                                                   Company
                                                                                                  2016          2015
                                                                                                RM’000        RM’000

               Trade accounts - retention sums payable                                            1,310         1,310
               Unsecured advances:
               -  bearing interest at 5.00% per annum                                                -         55,700
               -  interest free                                                                  97,273       106,540
                                                                                                98,583        163,550

              The trade accounts are expected to be settled within the normal credit period. The unsecured interest free advances are payable on
              demand.
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