165 / 188
161
NOTES TO THE FINANCIAL STATEMENTS
F i m a C o r p o r at i o n B e r h a d ( 2 1 1 8 5 - P ) •
A n n u a l R e p o r t 2 0 1 8
30. TRADE AND OTHER PAYABLES
Group
Company
2018
2017
2018
2017
RM’000
RM’000
RM’000
RM’000
Current
Trade Payables
Third parties
7,982
62,216
1
16
Other Payables
Tenants’ rental deposits
965
913
955
904
Accruals and other liabilities
12,823
8,113
341
364
Provision for bonus
4,069
3,455
345
345
Receipts in advance
1,144
1,644
-
-
Others
9,901
6,420
-
-
28,902
20,545
1,641
1,613
Total Trade and Other Payables
36,884
82,761
1,642
1,629
(a) Trade Payables
These amounts are non-interest bearing. Trade payables are normally settled on 30 to 90 days (2017: 30 to 90 days) term.
31. PROVISIONS
Group
Company
2018
2017
2018
2017
RM’000
RM’000
RM’000
RM’000
Provision for warranty
9,961
14,827
-
-
Provision for compensation claim
2,120
2,120
2,120
2,120
12,081
16,947
2,120
2,120
(a)
Provision for warranty is based on current volumes of products sold still under warranty and on historic quality rates as
well as estimates and assumptions regarding future quality rates for new products.
(b)
Provision for compensation claim is for a tenant’s renovation costs and general damages arising from an early termination
of a tenancy agreement by the Company. On 27 September 2011, the Court of Appeal had allowed the Company’s
appeal against the decision handed down by the High Court in favour of the tenant and directed that the matter be
remitted back to the High Court for a full trial. There has been no development since then.