Sasbadi Annual Report 2019

PAGE 126 SASBADI HOLDINGS BERHAD FINANCIAL STATEMENTS (continued) 23. Financial instruments (continued) 23.4 Credit risk (continued) Receivables (continued) Recognition and measurement of impairment loss (continued) Comparative information under MFRS 139, Financial Instruments: Recognition and Measurement The ageing of trade receivables as at 31 August 2018 was as follows: Individual Gross impairment Net Group RM’000 RM’000 RM’000 2018 Current (not past due) 17,436 - 17,436 1 - 30 days past due 6,102 - 6,102 31 - 180 days past due 15,915 - 15,915 181 - 330 days past due 2,444 - 2,444 More than 330 days past due 9,613 (3,590) 6,023 51,510 (3,590) 47,920 The movements in the allowance for impairment losses of trade receivables during the previous year were: Group 2018 RM’000 At 1 September 2017 1,697 Impairment loss recognised 2,065 Impairment loss reversed (156) Impairment loss written off (16) At 31 August 2018 3,590 Cash and cash equivalents The cash and cash equivalents are held with banks and financial institutions. As at the end of the reporting period, the maximum exposure to credit risk is represented by their carrying amounts in the statements of financial position. These banks and financial institutions have low credit risk. Consequently, the Group and the Company are of the view that the loss allowance is not material and hence, it is not provided for.