notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
19 TRADE AND OTHER RECEIVABLES (CONTINUED)
Credit risk concentration profile
The Group determines concentration of credit risk by monitoring the business segment of its trade receivables on an ongoing basis. The credit risk concentration profile
of the Group’s trade receivables at the reporting date is as follows:
Group
2014
2013
RM'000
RM'000
Oil & gas
344,593
177,219
Renewable energy
89,593
58,155
Industrial trading & services
147,627
145,735
Plantations
693
1,543
Others
13,971
30,747
Total
596,477
413,399
Concentration of credit risk exists within the oil & gas segment which primarily trades with oil majors. However, the Group considers the risk of default by these oil
majors to be negligible.
There is no concentration of credit risk within the Renewable Energy and Industrial Trading & Services segments as the balances are distributed over a large number of
customers
Ageing analysis of trade receivables
The ageing analysis of the Group’s trade receivables is as follows:
Gross trade
receivables
Impairment
loss
Net trade
receivables
RM'000
RM'000
RM'000
2014
Not past due
342,195
-
342,195
1 to 30 days overdue
179,079
-
179,079
31 to 60 days overdue
30,155
-
30,155
61 to 90 days overdue
14,388
-
14,388
91 to 180 days overdue
11,802
(142)
11,660
181 to 365 days overdue
14,961
(830)
14,131
More than 365 days overdue
34,541
(29,672)
4,869
Total
627,121
(30,644)
596,477
124
Wah Seong Corporation Berhad • Annual Report 2014
