NOTES TO THE FINANCIAL STATEMENTS
31 December 2014
21. Trade and other payables
Trade payables
Trade payables are non-interest bearing and are normally settled on 30-60 days’ terms.
Amount due to a subsidiary company
Amount due to a subsidiary company is non-trade related, unsecured, non-interest bearing, repayable on demand and is to be
settled in cash.
Other payables
Other payables are non-interest bearing and have an average term of 2 months, except for the deferred income which represented
the unrealised loan interest income and management fee charged to a joint venture, Bukit Timah Green Development Pte Ltd,
for its development property units that are unsold at year-end. The income are deferred and recognised upon sale of the
development property units.
22. Amounts due from/(to) joint venture partners
Amounts due from joint venture partner are trade related, unsecured, non-interest bearing are repayable upon demand.
Amounts due to joint venture partner are trade related, unsecured, non-interest bearing and are repayable upon demand.
Group
Company
2014
2013
2014
2013
(Restated)
S$’000
S$’000
S$’000
S$’000
Current
Trade payables
3,133
5,853
7
–
Accrued operating expenses
49,832
47,379
3,295
376
Amount due to a subsidiary company
–
–
1,000
207
Deposits received
1,123
1,011
–
–
GST payables
6,784
340
17
9
Withholding tax
–
240
–
–
Other payables
446
33
–
1
61,318
54,856
4,319
593
Non-current
Deferred income
1,227
688
–
–
1,227
688
–
–
Hock Lian Seng Holdings Limited
Annual report 2014
79
