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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
24. Trade and other receivables (cont’d)
132
Gross
Allowance
for
impairment
losses Net
Company
31 December 2011
RM’000 RM’000 RM’000
Not past due
Past due:
326,670 – 326,670
Less than 30 days – – –
30 to 60 days 257 212 45
61 to 90 days 471 444 27
91 to 120 days 490 – 490
More than 120 days 28,806 18,578 10,228
Building on Success: Developing Resources for the Future
30,024 19,234 10,790
Total 356,694 19,234 337,460
31 December 2010
Not past due
Past due:
221,702 – 221,702
Less than 30 days – – –
30 to 60 days 21,223 – 21,223
61 to 90 days 2,691 – 2,691
91 to 120 days 1 – 1
More than 120 days 18,667 10,395 8,272
42,582 10,395 32,187
Total 264,284 10,395 253,889
Receivables that are neither past due nor impaired
Trade and other receivables that are neither past due nor impaired are creditworthy debtors with good payment records with
the Group and the Company.
At the reporting date, trade receivables arising from export sales amounting to RM14,702,000 are arranged to be settled via
letter of credit issued by reputable banks in countries where the customers are based.
Receivables that are past due but not impaired
The Group and the Company have trade and other receivables amounting to RM26,847,000 and RM4,467,000 respectively
(2010: RM30,448,000 and RM24,009,000 respectively) that are past due at the reporting date but not impaired. Although
these balances are unsecured in nature, they are mostly due from creditworthy customers.