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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)
(f) The ageing analysis of trade receivables of the Group and of the Company are as follow: (continued)
Receivables that are neither past due nor impaired
Trade receivables that are neither past due nor impaired are creditworthy debtors with good payment
records with the Group and the Company. None of the trade receivables of the Group and the
Company that are neither past due not impaired have been renegotiated during the financial year.
Receivables that are past due but not impaired
Trade receivables that are past due but not impaired relate to a number of third party customers with
no recent history of default.
Receivables that are past due and impaired
Trade receivables of the Group and of the Company that are past due and impaired at the end of
each reporting period are as follows:
Collectively impaired
Individually impaired
2015
2014
2015
2014
RM
RM
RM
RM
Group
Trade receivables, gross
3,762,638 9,811,024 6,590,022 6,617,090
Less: Accumulated impairment losses
(523,413)
(259,301) (6,590,022) (6,617,090)
3,239,225 9,551,723
-
-
Company
Trade receivables, gross
6,234,805 3,377,737 1,237,928 4,719,127
Less: Accumulated impairment losses
(3,248,110) (1,915,435) (1,237,928) (4,719,127)
2,986,695 1,462,302
-
-
(g) The reconciliation of movement in the impairment losses are as follows:
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Trade receivables
At 1 January
6,876,391 4,763,812 6,634,562 21,061,140
Acquisition of subsidiaries
-
1,416,774
-
-
Charge for the financial year
1,120,739
927,485
438,411
189,030
Reversal of impairment losses
(182,007)
(184,073) (1,844,578) (14,615,608)
Written off
(917,863)
(63,973)
(742,357)
-
Exchange differences
216,175
16,366
-
-
At 31 December
7,113,435 6,876,391 4,486,038 6,634,562