112
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
13. TRADE AND OTHER RECEIVABLES (continued)
(a) Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group
ranges from 30 to 180 days (2013: 30 to 180 days). They are recognised at their original invoice amounts
which represent their fair values on initial recognition.
(b) In the previous financial year, amount owing by a related party represented e-pay (M) Sdn. Bhd.
(“e-pay (M)”) was unsecured, non-interest bearing and payable within normal trade credit terms of
the Group and of the Company in cash and cash equivalents. Subsequently, e-pay (M) became an
indirect subsidiary of the Company via the acquisition of e-pay Asia as disclosed in Note 10 to the
financial statements.
(c) Amounts owing by subsidiaries under non-current assets represent advances, which bears interest
at rates ranging from 4.0% to 6.0% (2013: 4.0% to 5.5%) per annum. The advances are repayable in
instalments over a period of up to five (5) years.
(d) Amounts owing by subsidiaries under current assets are unsecured, payable upon demand in cash
and cash equivalents and interest-free except for amounts of RM14,999,187 (2013: RM2,855,417) owing
by subsidiaries, which bear interest at rates ranging from 4.0% to 6.0% (2013: 4.0% to 5.5%) per annum.
(e) The currency exposure profiles of receivables are as follows:
Group
Company
2014
2013
2014
2013
RM
RM
RM
RM
Ringgit Malaysia
27,990,700 6,698,570 42,153,070 5,165,997
Philippines Peso
9,139,253 4,996,189
-
-
Thai Baht
959,408 1,758,642
-
-
Australian Dollar
585,525
115,683
-
-
Great Britain Pound
-
3,015
-
-
Indonesian Rupiah
-
1,229
-
-
US Dollar
257,821
-
5,664,786 6,343,422
38,932,707 13,573,328 47,817,856 11,509,419
(f) The ageing analysis of trade receivables of the Group and of the Company are as follow:
Group
Company
2014
2013
2014
2013
RM
RM
RM
RM
Neither past due nor impaired
26,242,411 3,064,730
709,927 1,317,833
Past due not impaired:
Less than 30 days
3,158,146 4,844,787
566,185
359,605
31 to 60 days
2,349,092 1,453,226
593,677
571,924
61 to 90 days
1,300,577 1,073,952
345,872
189,127
More than 90 days
1,668,685 1,969,573
643,210
480,024
8,476,500 9,341,538 2,148,944 1,600,680
34,718,911 12,406,268 2,858,871 2,918,513
Past due and impaired
6,876,391 4,763,812 6,634,562 21,061,140
41,595,302 17,170,080 9,493,433 23,979,653
