Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
30 Trade and other receivables (Continued)
Notes:
30
(a)
The ageing analysis of trade receivables at year end, net of provision for
(a)
impairment, was as follows:
Group
2011 2010
HK$ Million
HK$ Million
0 to less than 2 months 2 70.9 45.0
2 to less than 6 months 26 17.1 2.3
6 to less than 12 months 612 31.3 15.9
12 months and more 12 11.5 9.3
130.8 72.5
The Group’s credit terms for the contracting business are negotiated with
and entered into under normal commercial terms with its trade customers.
Various group companies have different credit policies depending on the
requirements of their markets and the businesses which they operate.
Retention money receivables in respect of contracting services are settled
in accordance with the terms of respective contracts.
There is no concentration of credit risk with respect to trade receivables, as
the Group has a large number of customers.
(b)
Amounts due from related companies are unsecured, interest free and
(b)
have no fixed terms of repayment. The balances are mainly denominated
in Renminbi.
(c) Depending on the line of business, trade receivables that are less than 12
months past due are not considered impaired. As at 31 December 2011,
trade receivables of HK$11.5 million (2010: HK$9.3 million) were past due
but not impaired. These relate to a number of independent customers for
whom there is no recent history of default. No other receivables were past
due or impaired.
(c)
12
11,500,0009,300,000
As at 31 December 2011, trade receivables of HK$11.6 million (2010:
HK$19.0 million) were impaired. A total provision of HK$11.6 million (2010:
HK$19.0 million) was made against the receivables at the year end date.
11,600,00019,000,000
11,600,000
19,000,000
156 HKC (Holdings) Limited • Annual Report 2011