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GHL Systems Berhad
(293040-D)
Annual report 2015
Notes to the Financial Statements
31 December 2015 (continued)
13. TRADE AND OTHER RECEIVABLES (continued)
(a) Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group
and the Company ranges from 30 to 180 days (2014: 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, amounts owing by subsidiaries under non-current assets represented
advances, which bore interest at rates ranging from4% to 6%per annum. The advances were repayable
in instalments over a period of up to five (5) years.
(c) 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 in the previous financial
year, which bore interest at rates ranging from 4.0% to 6.0% per annum.
(d) Included in amounts owing by subsidiaries are dividend receivable from a subsidiary amounted to
RM5,000,000 (2014: NIL).
(e) The currency exposure profiles of receivables are as follows:
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Ringgit Malaysia
30,076,698 27,990,700 44,222,588 42,153,070
Philippines Peso
10,669,959 9,139,253
-
-
Thai Baht
3,238,625
959,408
-
-
Australian Dollar
116,593
585,525
153,313
-
US Dollar
320
257,821 12,985,847 5,664,786
44,102,195 38,932,707 57,361,748 47,817,856
(f) The ageing analysis of trade receivables of the Group and of the Company are as follow:
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Neither past due nor impaired
18,170,745 19,244,591
614,670
709,927
Past due not impaired:
Less than 30 days
4,945,496 3,158,146
705,642
566,185
31 to 60 days
921,160
931,331
-
120,457
61 to 90 days
2,563,305 1,293,761
651,250
-
More than 90 days
4,239,093
539,359
-
-
12,669,054 5,922,597 1,356,892
686,642
30,839,799 25,167,188 1,971,562 1,396,569
Past due and impaired
10,352,660 16,428,114 7,472,733 8,096,864
41,192,459 41,595,302 9,444,295 9,493,433