Fraser & Neave Holdings Bhd Annual Report 2020

191 06 financial statements ANNUAL REPORT 2020 Notes to The Financial Statements (Cont’d.) 12. TRADE AND OTHER RECEIVABLES (CONTINUED) 12.1 Included in sundry debtors is mainly downpayment to suppliers of RM23,999,000 (2019: RM44,933,000). 12.2 The amounts due from subsidiaries are non-trade in nature, unsecured, receivable on demand and interest free, except for loan portion of RM543,877,000 (2019: RM427,039,000) which bears interest at KLIBOR + 1.25% (2019: KLIBOR + 1.25%) per annum. 12.3 The amounts due from related companies are trade in nature, except for non-trade portion of RM39,459,000 (2019: RM16,974,000). Non-trade amounts are unsecured, receivable on demand and interest free. Related companies refer to the subsidiaries or associates of TCC Assets Limited, Thai Beverage Public Company Limited, Berli Jucker Public Company Limited (“BJC”), Frasers Property Limited, TCC Land Co., Ltd. and TCC Corporation Limited. 12.4 The amounts due from a joint venture are trade in nature, unsecured, interest free and subject to negotiated trade term. 12.5 The amounts due from an associate are non-trade in nature, unsecured, receivable on demand and interest free. 13. INVENTORIES Group Note 2020 RM’000 2019 RM’000 Finished goods 184,241 243,425 Raw materials 389,977 275,922 Packaging materials 55,153 43,473 Other inventories 13.1 26,610 15,584 655,981 578,404 Recognised in profit or loss Inventories recognised as cost of sales 2,393,750 2,433,639 Inventories written off 25 6,498 8,485 Inventories written down 25 5,215 3,333 Reversal of inventories written down 25 (298) (433) 13.1 Other inventories comprise engineering spares and machine consumables. 14. DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) 2020 2019 Group Nominal value ’000 Assets RM’000 Liabilities RM’000 Nominal value ’000 Assets RM’000 Liabilities RM’000 Forward foreign exchange contracts (less than 1 year) – USD 4,602 1 (302) 2,400 6 (55) – AUD 1,706 3 (65) 2,042 – (81) 4 (367) 6 (136) Forward exchange contracts are used to manage the foreign currency exposures arising from the Group’s payables denominated in currencies other than the functional currencies of Group entities. Most of the forward exchange contracts have maturities of less than one year after the end of the financial year. Where necessary, the forward contracts are rolled over at maturity.