PRG Holdings Berhad Annual Report 2019
ANNUAL REPORT 2019 143 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 15. TRADE AND OTHER RECEIVABLES (continued) (g) Amounts owing by associates Trade amount owing by an associate is non-interest bearing and the normal trade credit terms granted by the Group is thirty (30) days (2018: thirty (30) days) from date of invoice. They are recognised at their original invoice amounts, which represent their fair values on initial recognition. Included in amounts owing by associates of the Group are loans to an associate amounting to RM4,623,000 (2018: RM4,748,000), which are unsecured, bear interest at 3% (2018: 3%) per annum and are payable in cash and cash equivalents. The remaining amounts owing by associates represent advances and payments made on behalf, which are unsecured, interest-free and payable within next twelve months in cash and cash equivalents. (h) Amount owing by a joint venture Trade amount owing by a joint venture is non-interest bearing and the normal trade credit terms granted by the Group range from fifteen (15) days to ninety (90) days (2018: fifteen (15) days to ninety (90) days) from date of invoice. They are recognised at their original invoice amounts, which represent their fair values on initial recognition. Non-trade amount owing by a joint venture represents payments made on behalf and commission charges, which are unsecured, interest-free and payable within next twelve months in cash and cash equivalents. (i) Currency exposure profile The currency exposure profile of trade and other receivables (exclude prepayments) are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 6,333 60,025 125,218 103,282 United States Dollar 18,449 13,937 - - Vietnamese Dong 3,441 5,825 - - Hong Kong Dollar 26,454 1,968 - - Singapore Dollar 4,673 16,833 509 - Chinese Renminbi 6,207 - - - Pound Sterling 60 - - - Others - 90 - - 65,617 98,678 125,727 103,282 (j) Information on financial risks of trade and other receivables is disclosed in Note 37 to the financial statements.
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