Page 89 - Forterra

87
NOTES TO THE
FINANCIAL STATEMENTS
13 TRADE AND OTHER PAYABLES
Group Trust
2012 2011 2012 2011
$’000 $’000 $’000 $’000
Non-current liabilities
Deferred consideration – 13,950 – –
Current liabilities
Trade creditors and accruals 9,028 6,758 1,975 605
Development cost payables 10,746 15,014 – –
Security deposits 15,525 23,470 – –
Interest payable 3,259 4,151 – –
Property and business taxes payable 10,133 12,278 – –
Amount due to the Trustee-Manager 12,658 4,147 12,258 4,147
Amounts due to subsidiaries of the
Group, non-trade 7,256 – 29,883 17,956
Deposit due to a related party of the buyer
for equity investment disposal (Note 8) 15,882 16,695 – –
Other payables 1,085 11,168 1,411 13
Advance from customers 3,318 4,556 – –
Deferred consideration 14,130 – – –
103,020 98,237 45,527 22,721
The deferred consideration has been accrued in accordance with the Sales & Purchase Agreement
dated 25 November 2010, which pertains to the amount due to the previous vendor of Central Park
Mall as part of the consideration for the acquisition of the property. This amount is payable in 2013.
Amounts due to the Trustee-Manager pertain to management and trustee fees accrued in accordance
with the Trust Deed. Non-trade amounts due to subsidiaries are unsecured and interest-free, and
are repayable on demand.
At 31 December 2011, included in other payables was an amount of S$10,314,000 due to a related
party of Trio Holding Company. This amount was settled in full during the current financial year
(Note 8).