DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
|
Annual Report
2015
110
18. Derivative liability
Contractual/
Notional amount
Group
RM
RM
Interest rate swap
68,704,000
(77,324)
Derivative liability arose from interest rate swap to hedge the variability in cash flows arising from interest
rate risks in relation to the floating rate of a term loans. The interest rate swap has been designated as a
cash hedge.
The swap entitles the Group to receive a floating interest equal to 3 month USD-LIBOR + 3.10% per annum,
pays a fixed rate of 4.18% per annum (if LIBOR is less than or equals to 2.00%) or a 3 months USD-LIBOR +
2.35% per annum (if LIBOR is more than 2.00%).
The swap has the same maturity date as that of the term loan.
19. Trade and other payables
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Trade
Trade payables
78,809,681 89,650,553
-
-
Amount due to an associate
-
27,550,390
-
-
78,809,681 117,200,943
-
-
Non-trade
Other payables (Note 19.1)
9,949,675 6,964,265
930,663
218,801
Accrued expenses
62,863,747 64,904,223 8,442,758
93,221
72,813,422 71,868,488 9,373,421
312,022
Total
151,623,103 189,069,431 9,373,421
312,022
19.1 Included in other payables of the Group was an amount of RM590,053 subsisting as at 31 December
2014 payable to suppliers for the acquisition of property, plant and equipment.
20. Current tax liabilities
Included in the current tax liabilities is additional tax provision recognised through a business combination
during the year (see Note 36). A contingent liability acquired in a business combination is recognised in
the acquisition accounting.
Notes to the
Financial Statements
(cont’d)
