GHL System Berhad Annual Report 2019

G H L S Y S T E M S B E R H A D 1 9 9 4 0 1 0 0 7 3 6 1 ( 2 9 3 0 4 0 - D ) 138 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 20. TRADE AND OTHER RECEIVABLES Group Company 2019 2018 2019 2018 RM RM RM RM Trade receivables Third parties 67,948,773 74,425,484 1,242,824 4,625,679 Loans, advances and financing to customers 285,000 - - - Associate 140,825 - - - Subsidiaries - - 7,332,006 12,008,533 68,374,598 74,425,484 8,574,830 16,634,212 Accumulated impairment losses - third parties (13,698,566) (8,428,632) (951,362) (1,370,781) - subsidiaries - - (3,709,152) (5,583,854) (13,698,566) (8,428,632) (4,660,514) (6,954,635) 54,676,032 65,996,852 3,914,316 9,679,577 Other receivables Other receivables 49,388,752 66,067,091 241,970 268,169 Amounts owing by subsidiaries - - 51,625,016 58,732,339 Deposits 3,614,651 2,534,454 128,904 110,023 53,003,403 68,601,545 51,995,890 59,110,531 Accumulated impairment losses - other receivables (353,576) (260,877) (158,866) (158,866) - amounts owing by subsidiaries - - (31,311,894) (39,743,649) (353,576) (260,877) (31,470,760) (39,902,515) 52,649,827 68,340,668 20,525,130 19,208,016 Total receivables 107,325,859 134,337,520 24,439,446 28,887,593 Prepayments 3,846,182 4,125,285 1,272,292 1,455,050 111,172,041 138,462,805 25,711,738 30,342,643 (a) Total receivables are classified as financial assets and are measured at amortised cost. (b) 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 (2018: 30 to 180 days). They are recognised at their original invoice amounts which represent their fair values on initial recognition. (c) Loan, advances and financing to customers are loans of RM285,000 to Merchants which are recoverable through instalment repayments via settlement payment owing to Merchant and subject to an interest at 12% per annum and payable in cash and cash equivalents within next twelve (12) months. (d) Amounts owing by subsidiaries are non-trade in nature, unsecured, payable in cash and cash equivalents within next twelve (12) months and interest-free.