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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)
(g) The reconciliation of movement in the impairment losses are as follows: (continued)
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Other receivables
At 1 January
509,444
487,272 25,910,819 26,656,542
Charge for the financial year
-
-
24,066,052
-
Reversal of impairment losses
-
-
(2,264,944)
(745,723)
Written off
(349,678)
-
-
-
Exchange differences
-
22,172
-
-
At 31 December
159,766
509,444 47,711,927 25,910,819
7,273,201 7,385,835 52,197,965 32,545,381
Impairment loss for the financial year is an amount of RM24,066,052 (2014: NIL) relating to a subsidiary,
e-Pay Asia Pty. Ltd., recognised during the financial year due to cessation of its operating activities.
Tradeandother receivables that arecollectivelydetermined tobe impairedat theendof each reporting
period relate to those debtors that are not individually assessed for impairment and share similar credit
risk characteristics. These receivables are not secured by any collateral or credit enhancements.
(h) Information on financial risks of trade and other receivables is disclosed in Note 36 to the financial
statements.
14. DEFERRED TAX
(a) The deferred tax assets and liabilities are made up of the following:
Group
Company
2015
2014
2015
2014
Note RM
RM
RM
RM
Balance as at 1 January
(893,238) (2,148,399)
-
278,293
Acquisition of subsidiaries
10
-
360,000
-
-
Recognised in profit or loss
29
582,903
907,191
-
(278,293)
Exchange differences
(38,473)
(12,030)
-
-
Balance as at 31 December
(348,808)
(893,238)
-
-