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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)
Receivables that are impaired
The Group’s and the Company’s trade and other receivables that are impaired at the reporting date and the movement of
allowance accounts used to record the impairment are as follows:
Group Company
Individually impaired
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Trade and other receivables- nominal amounts 29,126 16,167 25,557 18,573
Less: Allowance for impairment (22,803) (7,989) (19,234) (10,395)
Movement in the allowance accounts:
6,323 8,178 6,323 8,178
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
At 1 January 7,989 5,617 10,395 4,699
Impairment for the year (Note 10) 14,808 2,854 8,936 5,932
Amounts written-off (143) (296) (143) (132)
Reversal of impairment (Note 7) – (104) – (104)
Exchange adjustment 149 (82) 46 –
At 31 December 22,803 7,989 19,234 10,395
Trade receivables that are individually determined to be impaired at the reporting date relate to debtors that are in significant
financial difficulties and have defaulted on payments. Included in the net carrying amount of trade receivables is an amount
of RM6,319,000 (2010: RM8,178,000) for the Group and the Company which is secured by a charge on the share of tribute
of a tin mining concession.
25. Other current assets
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Prepaid operating expenses 4,570 7,144 4,362 3,000
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 133