CAHYA MATA SARAWAK ANNUAL REPORT 2016

www.cmsb .com.my Cahya Mata Sarawak Berhad 162 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 25. OTHER CURRENT ASSETS Group 2016 2015 RM’000 RM’000 Prepaid operating expenses 3,282 6,219 Amount due from customers for contracts work (Note 26) 28,986 30,883 Progress billings in respect of property development cost 5,174 - 37,442 37,102 26. GROSS AMOUNT DUE FROM/(TO) CUSTOMERS FOR CONTRACT WORK-IN-PROGRESS Group 2016 2015 RM’000 RM’000 Construction contract costs incurred to-date 531,384 394,513 Attributable profits less recognised losses 53,021 48,982 584,405 443,495 Less: Progress billings (605,683) (436,709) (21,278) 6,786 Presented as: Amount due from customers for contracts work (Note 25) 28,986 30,883 Amount due to customers for contracts work (Note 32) (50,264) (24,097) (21,278) 6,786 Retention sums on construction contracts included in: Trade receivables (Note 24) 8,782 4,759 Other receivables (Note 24) 479 417 Trade payables (Note 31) 12,411 8,907 The costs incurred to-date on contracts work include the following charges made during the financial year: Group 2016 2015 RM’000 RM’000 Depreciation of property, plant and equipment (Note 13) 52 46 Operating leases: - minimum lease payments on land and buildings 141 62 - minimum lease payments on equipment - 9