Powering growth - Aztech Group Ltd - Investor Relations

72a z t e c h a n n u a l r e p o r t 2 0 0 9F i n a n c i a l S t a t e m e n t s8 TRADE RECEIVABLES (cont’d)Movements in the allowance for doubtful debts:GROUP2009 2008$’000 $’000Balance at beginning of the year 539 541Exchange difference (14) (2)Increase in allowance recognised in profit or loss 27 -Balance at end of the year 552 539The Group’s and the Company’s trade receivables that are not denominated in the functional currencies of the respective entities are as follows:GROUPCOMPANY2009 2008 2009 2008$’000 $’000 $’000 $’000United States dollars 24,390 31,069 101 5,741Euro - 240 - -9 OTHER RECEIVABLES AND PREPAYMENTSGROUPCOMPANY2009 2008 2009 2008$’000 $’000 $’000 $’000CurrentOther receivables and prepayments 2,430 2,123 249 343Insurance receivable 3,812 - - -Subsidiaries (Notes 5 and 12) - - 46,094 29,594Allowance for doubtful other receivables - - (3,805) (3,805)6,242 2,123 42,538 26,132Non-currentDeposit for vessel payment 2,691 8,822 - -Total 8,933 10,945 42,538 26,132The insurance receivable was for two insurance claims submitted for the damage sustained to two of the Group’s vessels. As at the date of thisreport, one of the insurance claims amounting to $1,817,000 denominated in US$1,296,000 has already been received.The Company’s other receivables due from subsidiaries are repayable on demand and interest-free except for balance with a subsidiary amountingto $31,665,000 (2008 : $20,743,000) which is subject to interest at 1.85% (2008 : 1.85%) per annum above USD SIBOR. The average age ofthese receivables is less than 60 days (2008 : 60 days). The Company has not made any further allowance in 2009 as the management are ofthe view that receivables are recoverable.