73 All figures are in A$000's Note 2023 2022 Trade payables* 57,461 58,714 Project accruals 261,446 172,962 Other payables and accruals 23,839 18,306 Payables to other related parties 17 135 93 Payables to associates - Dutco McConnell Dowell (ME) LLC 41 125 Total trade and other payables 342,922 250,200 The ultimate parent of the Group is Aveng Limited (a company incorporated in South Africa). Aveng Limited owns 100% of the issued ordinary shares in Aveng Australia Holdings Pty Ltd. The immediate Australian parent of the Group is Aveng Australia Holdings Pty Ltd. Aveng Australia Holdings Pty Ltd owns 100% of the issued ordinary shares in McConnell Dowell Corporation Limited. * Trade payables are non-interest bearing and are normally settled on 30-45 day terms. Due to the short-term maturity of these payables, their carrying value is assumed to approximate their fair value. There is no collateral provided as security. Information regarding foreign exchange, interest rate and liquidity risk exposure is set out in Note 20. Consolidated 13. Trade and other payables 14. Ultimate parent
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