EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 85 notes to the financial statements 31 december 2019 (cont’d) 13. Trade Receivables Group Company 2019 2018 2019 2018 RM RM RM RM Trade receivables 5,546,718 5,387,663 5,305,471 5,165,518 Less: Accumulated impairment losses (198,431) (161,544) (163,445) (126,522) 5,348,287 5,226,119 5,142,026 5,038,996 Trade receivables are non-interest bearing and are generally on 60 to 90 days (2018: 60 to 90 days) term. Other credit terms are assessed and approved on a case to case basis. They are recognised at their original invoice amounts which represent their fair values on initial recognition. Movements in the allowance for impairment losses of trade receivables are as follows: Lifetime allowance Credit impaired Loss allowance RM RM RM Group At 1 January 2019 131,613 29,931 161,544 Impairment losses recognised 36,923 - 36,923 Impairment losses reversed (36) - (36) At 31 December 2019 168,500 29,931 198,431 At 1 January 2018 - 12,208 12,208 Effect of adoption of MFRS 9 65,044 - 65,044 Impairment losses recognised 80,641 21,308 101,949 Impairment losses reversed (1) (14,072) (3,585) (17,657) At 31 December 2018 131,613 29,931 161,544 Company At 1 January 2019 126,522 - 126,522 Impairment losses recognised 36,923 - 36,923 At 31 December 2019 163,445 - 163,445 At 1 January 2018 - - - Effect of adoption of MFRS 9 45,881 - 45,881 Impairment losses recognised 80,641 - 80,641 At 31 December 2018 126,522 - 126,522 (1) Impairment losses reversed during the financial year when the related amounts were collected.