notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
19 TRADE AND OTHER RECEIVABLES (CONTINUED)
Ageing analysis of trade receivables (continued)
The ageing analysis of the Group’s trade receivables is as follows (continued):
Gross trade
receivables
Impairment
loss
Net trade
receivables
RM'000
RM'000
RM'000
2013
Not past due
148,352
-
148,352
1 to 30 days overdue
144,668
-
144,668
31 to 60 days overdue
71,103
-
71,103
61 to 90 days overdue
10,978
-
10,978
91 to 180 days overdue
23,703
(1,108)
22,595
181 to 365 days overdue
12,729
(3,691)
9,038
More than 365 days overdue
35,259
(28,594)
6,665
Total
446,792
(33,393)
413,399
Receivables that are neither past due nor impaired
Trade and other receivables of the Group and the Company that are not impaired are in respect of creditworthy debtors with reliable payment records and have a low
risk of default. Most of the Group’s trade receivables arise from customers with more than 5 years of experience with the Group.
None of the Group’s trade receivables that are neither past due nor impaired have been renegotiated during the financial year.
The movements in the allowance for impairment loss of trade receivables during the financial year are as follows:
Group
2014
2013
RM'000
RM'000
At 1 January
33,393
22,967
Impairment loss recognised
3,780
14,267
Impairment loss reversed
(3,952)
(1,397)
Impairment loss written off
(2,673)
(2,928)
Acquisition of subsidiaries
-
66
Effect of exchange rate changes
96
418
At 31 December
30,644
33,393
Trade receivables that are individually determined to be impaired at the reporting date relate to balances for which recoveries are doubtful. These receivables are not
secured by any collateral.
125
Wah Seong Corporation Berhad • Annual Report 2014
