Page 142 - HRC_Annual_Report_2023

140 About HRC Value Creation Management Discussion Leadership
& Analysis

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

24 TRADE AND OTHER PAYABLES
2023 2022
RM’000 RM’000
Trade payables 1,530,283 1,423,689
Accruals for crude oil and petroleum products 635,730 1,156,647
Sundry accruals 105,641 110,513
Accruals for consumables and services 1,770 4,193
Accruals for capital expenditure 57,443 25,530

2,330,867 2,720,572

The Company’s trade payables and accruals for crude oil and petroleum products are non-interest bearing, unsecured,
except for a balance amounting to RM1,039,219,000 (2022: RM1,079,335,000) which is secured by a charge against the
Company’s hydrocarbon inventories and receivables as mentioned in Notes 16 and 17. The credit terms for trade payables range
from 30 to 120 days (2022: 30 to 120 days).

25 AMOUNTS DUE TO PENULTIMATE HOLDING COMPANY, IMMEDIATE HOLDING COMPANY AND
RELATED COMPANY
As at 31 December 2023, amounts due to penultimate holding company, immediate holding company and related company
are unsecured. Included in the amounts due to penultimate holding company is accruals made for capital expenditure of
RM2,052,000 (2022: RM2,052,000). Amounts due to penultimate holding company, immediate holding company and related
company have credit terms of 30 days.

26 BORROWINGS
2023 2022
RM’000 RM’000
Medium term notes, short-term loans and revolving credits 1,720,881 1,608,947
Less: Amount repayable within 12 months (1,216,366) (1,004,703)
Amount repayable after 12 months 504,515 604,244

The remaining maturities of the borrowings are as follows:
Within 1 year 1,216,366 1,004,703
More than 1 year and less than 2 years 137,116 237,324
More than 2 years and less than 5 years 367,399 366,920
1,720,881 1,608,947