Ni Hsin Berhad Annual Report 2017

24. Financial instruments (continued) 24.4 Credit risk (continued) Receivables (continued) Impairment losses The aging of receivables as at the end of the reporting period was: Individual Gross impairment Net Group RM’000 RM’000 RM’000 2017 Not past due 2,784 - 2,784 Past due 1 - 30 days 649 - 649 Past due 31 - 60 days - - - Past due 61 - 90 days - - - Past due over 90 days - - - 3,433 - 3,433 2016 Not past due 4,164 - 4,164 Past due 1 - 30 days 660 - 660 Past due 31 - 60 days - - - Past due 61 - 90 days - - - Past due over 90 days 288 - 288 5,112 - 5,112 Company 2017 Not past due 304 - 304 2016 Not past due 81 - 81 As at the end of the reporting period, there was no indication that the receivables are not recoverable. Financial guarantees Risk management objectives, policies and processes for managing the risk The Company provides unsecured financial guarantees to banks in respect of banking facilities granted to certain subsidiaries. The Company monitors on an ongoing basis the results of the subsidiaries and repayments made by the subsidiaries. As at the end of the reporting period, the Company provided total corporate guarantees amounting to RM26,140,000 (2016: RM26,140,000). Exposure to credit risk, credit quality and collateral The maximum exposure to credit risk amounts to RM Nil (2016: RM254,000) representing the outstanding banking facilities of the subsidiaries as at the end of the reporting period. As at the end of the reporting period, there was no indication that any subsidiary would default on repayment. The financial guarantees have not been recognised since the fair value on initial recognition was immaterial. Notes to the financial statements (continued) Annual Report 2017 83