EC World REIT - Annual Report 2016

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100 EC World Real Estate Investment Trust ANNUAL REPORT 2016
NOTES TO THE
Financial Statements
For the Financial Year ended 31 December 2016
17. Trade and other payables
Group ECW
2016 2015 2016 2015
S$’000 S$’000 S$’000 S$’000
Current
Trade payables to:
– non-related parties 6,842 37,299 – –
– related parties – 26,557 – –
Interest payables 3,238 289 1,274 –
Dividend payables – 727 – –
Accruals for operating expenses 6,412 4,715 970 167
Purchase consideration due to Sponsor – 299,425 – –
Other payables
– non-related parties 4,744 4,207 54 –
– related parties 1,356 28,353 1,280 –
Deposits 1,444 2,023 – –
Deferred income 2,823 – – –
Rental received in advance 566 539 – –
27,425 404,134 3,578 167
Non-current
Tenancy related deposits 51,206 – – –
Deferred income 8,468 – – –
59,674 – – –
87,099 404,134 3,578 167
The amounts due to related parties are unsecured, interest-free and repayable on demand.
The fair value of the non-current tenancy related deposits approximates its carrying value as at reporting date.
18. Borrowings
Group ECW
2016 2015 2016 2015
S$’000 S$’000 S$’000 S$’000
Current
Secured bank borrowings
– Onshore facilities 2,206 61,147 – –
2,206 61,147 – –
Non-current
Secured bank borrowings
– Onshore facilities 201,769 205,993 – –
– Offshore facilities 194,855 – 194,855 –
396,624 205,993 194,855 –
Total borrowings 398,830 267,140 194,855 –