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DYNA-MAC HOLDINGS LTD.
2016 ANNUAL REPORT
93
Performance At A Glance
Financial Report
Corporate Governance and Transparency
Sustainable Growth
Year in Review
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2016
23.
TRADE AND OTHER PAYABLES
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Trade payables to:
– Non-related parties
52,576
91,707
–
–
Construction contracts
– Advances received (Note 15)
–
4,765
–
–
Non-trade amount due to:
– A director
244
244
–
–
Consideration payable
–
1,500
–
–
Other payables
603
1,170
1
84
Accrual for operating expenses
3,932
5,780
143
1,408
57,355
105,166
144
1,492
The non-trade amount due to a director is unsecured, interest-free and is repayable on demand.
24.
BORROWINGS
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Current
Bank borrowings
35,000
34,191
–
–
Finance lease liabilities (Note 25)
42
40
–
–
35,042
34,231
–
–
Non-current
Unsecured unquoted fixed rate notes
–
49,532
–
49,532
Finance lease liabilities (Note 25)
96
139
–
–
96
49,671
–
49,532
Total borrowings
35,138
83,902
–
49,532
In 2014, the Group established a S$300 Million Multi-Currency Medium Term Note (“MTN”) Programme,
pursuant to which the Company may issue notes from time to time to finance the general corporate funding
requirements. Under this MTN Programme, the Company may issue notes in Singapore dollars or other
currencies, in various amounts and tenors, which may bear fixed, floating or variable rates of interest. Hybrid
notes and zero coupon notes may also be issued under the MTN Programme.
The notes were unsecured, interest bearing at 4.25% per annum payable semi-annually, and was fully
redeemed on 7 October 2016.