Kimlun Corporation Berhad Annual Report 2019

Annual Report 2019 Kimlun Corporation Berhad NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2019 (cont’d) 131 21. Trade and other receivables (cont'd) (a) Trade receivables The ageing analysis of the Group's trade receivables is as follows: 2019 2018 RM RM Neither past due nor impaired 269,971,480 267,101,942 1 to 30 days past due not impaired 48,920,844 26,924,607 31 to 60 days past due not impaired 21,977,725 27,417,494 61 to 90 days past due not impaired 23,546,294 9,041,566 91 to 120 days past due not impaired 13,945,284 12,289,127 More than 120 days past due not impaired 89,587,132 48,367,443 197,977,279 124,040,237 Impaired 14,286,048 14,895,398 482,234,807 406,037,577 Receivables that are neither past due nor impaired None of these balances have been renegotiated during the financial year. Receivables that are past due but not impaired Trade receivables are non-interest bearing and are generally on 30 to 90 days (2018: 30 to 90 days) terms, although in practice, this may extend to 120 days. Other credit terms are assessed and approved on a case-by-case basis. They are recognised at their original certificated or invoiced amounts which represent their fair values on initial recognition. Included in trade receivables is an amount of RM115,712,939 (2018:RM115,378,700), which represents retention sum receivable on construction contracts of the Group. Trade and other receivables that are neither past due nor impaired are creditworthy debtors with good payment records with the Group. The Group has trade receivables amounting to RM197,977,279 (2018: RM124,040,237) that are past due at the reporting date but are not impaired and are not secured by any collateral or credit enhancements. The management is confident that the balance of receivables that are past due but not impaired are recoverable as these are active accounts due from credit worthy debtors. Group