FGV HOLDINGS BERHAD | AUDITED FINANCIAL STATEMENTS 2023 187 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 49 PAYABLES (CONTINUED) The payables are denominated as follows: Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 - Ringgit Malaysia 1,220,308 1,860,342 48,937 66,982 - United States Dollar 48,558 55,619 2,919 1,526 - Indonesian Rupiah 1,832 12,140 - - - Pakistan Rupee 21,527 11,550 - - - Thai Baht 2,389 1,353 - - - Euro 1,883 - - - - Others 39 25 6 - 1,296,536 1,941,029 51,862 68,508 The credit terms of trade payables range up to 90 days (2022: up to 90 days). The fair value of the payables approximates their carrying values, as the impact of discounting is not significant. 50 CONTRACT LIABILITIES Group 2023 RM’000 2022 RM’000 Contract liabilities At 1 January 109,359 132,340 Revenue recognised that was included in the contract liability balance at the beginning of financial period (106,647) (129,316) Cash received/amount billed for unfulfilled obligations 88,948 106,335 At 31 December 91,660 109,359
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