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Notes to the financial statements
31 December 2014
Bursa Malaysia
•
Annual Report 2014
166
36. Financial risk management objectives and policies (cont’d.)
(e) Credit risk (cont’d.)
(i) Receivables that are neither past due nor impaired
Receivables that are neither past due nor impaired are creditworthy debtors with good payment records with the Group and with the Company.
The Group and the Company’s trade receivables credit term ranges from seven days to 30 days, except for trade receivables relating to fees due from
clearing participants for clearing and settlement services where payment is due three market days from the month end.
None of the Group and the Company’s receivables that are neither past due nor impaired have been renegotiated during the current and previous
financial years.
The Group and the Company have no significant concentration of credit risk that may arise from exposures to a single clearing participant or
counterparty.
(ii) Receivables that are impaired
The Group and the Company’s receivables that are impaired at the financial year end and the movement of the allowance accounts used to record the
impairment are as follows:
Trade
receivables
Other
receivables
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Group
At nominal amounts
388
601
6,268
7,004
Less: Allowance for impairment
(388)
(501)
(6,268)
(7,004)
-
100
-
-
Movement in allowance accounts:
At 1 January
501
458
7,004
7,024
Charge/(reversal) of impairment loss for the year
63
43
(736)
(20)
Written off
(176)
-
-
-
At 31 December
388
501
6,268
7,004