Eng - IOI Group

notestothefinancialstatements cont’d43 ANALYSIS OF LIABILITIES PAYABLE AND DEBTS RECEIVABLE - GROUPThe liabilities payable and debts receivable by the Group, estimated by the Directors are as follows:In RM’000Group2003 2002IOI Corporation BerhadAnnual Report 2003216Liabilities PayableAmount due to associates 2,739 2,739Trade payables 216,983 105,877Other payables and accruals 313,982 275,524Amount due to customers on contracts - 194Bank overdrafts 12,148 27,600Short term borrowings 1 191,354 590,527Taxation 23,536 41,181Term loans 1,689,691 501,857Club membership deposits 14,990 14,7382,465,423 1,560,237Less:Short term funds 44,649 61,641Deposits with financial institutions 218,659 216,632Cash and bank balances 236,524 201,8531,965,591 1,080,111Payable as follows:Within 2 years 2 586,310 630,872Between 2 to 5 years 1,164,361 394,971After 5 years 214,920 54,2681,965,591 1,080,111Debts ReceivableAmount due from associates 3,437 5,539Trade receivables 398,548 238,431Other receivables, deposits and prepayments 160,966 79,614Amount due from customers on contracts 624 -Tax recoverable 1,247 10,187564,822 333,771Add:Estimated proceeds to be received from the exercise of Warrants 1995/2003 - 608,117564,822 941,888Receivable as follows:Within 2 years 564,822 941,888Between 2 to 5 years - -564,822 941,888Notes:1 Included in short term borrowings of RM191,354,000 (2002 - RM590,527,000) are revolving credit facilities of RM49,468,000 (2002 -RM37,443,000) and Commercial Papers of RM140,000,000 (2002 - RM280,000,000). Even though these facilities have been classified aspayable within 2 years based on accounting requirements, the Directors are however of the view that the facilities form part of the basicfinancing tools of the Group and therefore significant portion of these facilities will continue to be available in the foreseeable future.2 The liabilities payable within 2 years is net of short term funds, deposits with financial institutions and cash and bank balances.