notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
33 TRADE AND OTHER PAYABLES
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Current
Trade payables
205,541
171,441
-
-
Deferred revenue
14,588
43,997
-
-
Other payables and accruals
299,679
182,214
10,261
8,888
519,808
397,652
10,261
8,888
Non-current
Other liabilities
3,739
3,553
-
-
Deferred revenue
346
9,838
-
-
4,085
13,391
-
-
Included within other payables is an accrual of RM12,000,000 (2013:Nil) in respect of management performance incentive plan following achievement of targets set for
the financial year 2014. This is a five year plan that commenced in financial year 2012 and will end in financial year 2016. The plan has indepedent targets for each of
the five years. No incentive payments were payable for financial years 2012 and 2013 as the targets for those years were not met.
The Group’s trade payables exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk, based on carrying amounts
as at the end of the financial year, was:
Group
2014
2013
RM’000
RM’000
- Norwegian Kroner
42,315
12,516
- Singapore Dollar
18,800
16,361
- United States Dollar
9,159
10,614
- Euro Dollar
5,149
4,152
- United Arab Emirates Dirham
3,069
1,376
- Japanese Yen
2,160
2,834
- Indonesian Rupiah
1,619
347
- Ringgit Malaysia
202
443
- Australian Dollar
347
1,477
- Others
258
19
83,078
50,139
141
Wah Seong Corporation Berhad • Annual Report 2014
