99
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
20.
TRADE AND OTHER PAYABLES (CONT’D)
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Other payables
Deposits from customers
1,321
2,231
717
568
Accrued operating expenses
1,616
1,865
1,260
1,406
Other payables
801
1,438
401
980
Amounts due to subsidiaries
–
–
2,565
259
Amounts due to related parties
1
407
1
57
3,739
5,941
4,944
3,270
Total financial liabilities
24,350
23,258
28,660
29,228
Non-financial liability
GST payable
1,121
1,655
983
1,620
25,471
24,913
29,643
30,848
Trade payables including amounts due to subsidiaries, associates and related parties are non-interest
bearing and are normally settled on 30 to 90 days’ term.
The non-trade amounts, including amounts due to subsidiaries and related parties and are unsecured,
interest-free and repayable on demand.
Deposits from customers are trade related, unsecured and settled upon the fulfilment of the
contractual obligations. Accrued operating expenses include rectification work of Nil (2013: $135,000)
required on the leasehold buildings pursuant to the sale and leaseback of 15 Jurong Port Road.
Trade payables denominated in foreign currencies at 31 December are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
United States Dollar
12,683
14,628
12,681
11,711
