FGV HOLDINGS BERHAD | AUDITED FINANCIAL STATEMENTS 2023 147 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 26 RECEIVABLES Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Non-current assets Other receivable (Note i) 22,954 - - - Deposits 5,241 6,406 - - Prepayment (Note ii) 136,557 123,557 - - 164,752 129,963 - - Loss allowance: Deposits (5,241) (6,406) - - 159,511 123,557 - - Current assets Trade receivables 1,338,931 1,581,295 - - Other receivables (Note i) 89,947 120,961 6,305 2,133 Prepayments (Note ii) 48,409 54,255 275 275 Deposits (Note iii) 47,741 46,288 5,442 5,195 Sales and services tax (“SST”) receivable 620 6,886 - - 1,525,648 1,809,685 12,022 7,603 Loss allowance: Trade receivables (166,204) (168,365) - - Other receivables (22,739) (23,329) - - Deposits (3,053) (2,922) - - 1,333,652 1,615,069 12,022 7,603 Total 1,493,163 1,738,626 12,022 7,603 (Note i) Included in non-current other receivables of the Group are lease receivables which represent outstanding net present value of receipts under leasing arrangements amounting to RM22,954,000. Included in current other receivables of the Group are cooking oil subsidy and sugar incentive receivable from Kementerian Perdagangan Dalam Negeri Dan Kos Sara Hidup of RM26,813,000 (2022: RM30,204,000) and RM24,000,000 (2022: Nil) respectively, amounts placed with brokers for CPO and sugar futures trading facilities totalling RM19,508,000 (2022: RM36,413,000) and lease receivables which represent outstanding net present value of receipts under leasing arrangements amounting to RM12,713,000 (2022: RM15,990,000). (Note ii) Included in non-current and current prepayments is a security deposit amounting to RM62,120,000 (2022: RM62,120,000) paid to ultimate holding company under the LLA dated 1 November 2011, which shall be set off towards any payment of the lease amount prior to expiry or sooner upon reclamation of land under the LLA, and prepayment for purchase of precious metal to catalyze certain reactions in its production process at cost amounting to RM68,531,000 (2022: RM55,295,000). (Note iii) Included in current deposits of the Group are deposit in relation to medical insurance facilities amounting to RM7,991,000 (2022: RM7,991,000).
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