Annual Report 2019

Explanatory Notes 30 SEPTEMBER 2019 28. OTHER BORROWED FUNDS (CONT’D) (d) The secured bank and other borrowings are secured by floating charges over the respective assets of the relevant companies of the Group. (e) The carrying amounts of the other borrowed funds are denominated in the following currencies: GROUP COMPANY Sep-19 Sep-18 Sep-19 Sep-18 MUR m MUR m MUR m MUR m MUR and others 9,085.3 5,910.2 1,203.3 1,396.9 EURO 8.7 30.1 - - USD 0.8 9.5 - - 9,094.8 5,949.8 1,203.3 1,396.9 Changes in liabilities arising from financing activities GROUP COMPANY Sep-19 Sep-18 Sep-19 Sep-18 MUR m MUR m MUR m MUR m At 1 October 5,746.4 4,057.9 1,396.9 1,620.0 Proceeds 17,177.9 12,097.7 993.0 1,751.9 Repayments (13,842.2) (10,440.5) (1,186.6) (1,975.0) Distribution of disposal group (note 35) (3.8) - - - Acquisition of subsidiary - 33.3 - - Foreign exchange difference - (2.0) - - At 30 September 9,078.3 5,746.4 1,203.3 1,396.9 29. OTHER LIABILITIES GROUP COMPANY Sep-19 Sep-18 Sep-19 Sep-18 MUR m MUR m MUR m MUR m Trade payables 513.8 525.2 - - Accruals 95.2 69.7 3.6 2.9 Other payables 647.5 605.7 0.2 84.4 Deferred income 182.2 120.8 - - Foreign currency derivatives - 20.0 - 20.0 1,438.7 1,341.4 3.8 107.3 Amount payable to subsidiaries - - - 23.8 1,438.7 1,341.4 3.8 131.1 The carrying amount of the payables is considered as a reasonable approximation of fair value due to their short term nature. Trade payable and other payable are secured, interest free and payable within 3 months. Deferred income includes merchant discount which is recognised and released to profit or loss in accordance to note 2.6(d). CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 144