Notes to the Financial Statements
31 December 2015
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
In 2014, amount due to a subsidiary was non-trade related, unsecured, non-interest bearing and repayable on
demand. The amount has been fully repaid in the current year.
Other payables
Other payables are non-interest bearing and have an average term of 2 months.
In 2014, the deferred income arose from the elimination of intra-group loan interest income charged on a loan
to a joint venture, Bukit Timah Green Development Pte Ltd, which was in excess of the carrying amount of the
Group’s interest in the joint venture. In the current year, the deferred income was reversed as the carrying
amount of the Group’s interest in the joint venture exceeded the elimination of intra-group loan interest income.
22.
Amounts due from/(to) a joint venture partner
Amounts due from/(to) a joint venture partner are trade related, unsecured, non-interest bearing, repayable upon
demand and are to be settled in cash.
Group
Company
2015
2014
2015
2014
S$’000
S$’000
S$’000
S$’000
Current
Trade payables
3,465
3,133
9
7
Accrued operating expenses
46,917
49,832
1,429
3,295
Amount due to a subsidiary
–
–
ȫ
1,000
Deposits received
47
1,123
–
–
GST payables
359
6,784
52
17
Other payables
39
446
1
–
50,827
61,318
1,491
4,319
Non-current
Deferred income
ȫ
1,227
–
–
ȫ
1,227
–
–
HOCK LIAN SENG HOLDINGS LIMITED
74
