Sasbadi Annual Report 2021

98 SASBADI HOLDINGS BERHAD FINANCIAL STATEMENTS (continued) 98 14. CONTRACT WITH CUSTOMERS (continued) (b) Contract liabilities Group 2021 2020 RM’000 RM’000 Contract liabilities 1,841 1,940 The contract liabilities primarily relate to the advance consideration received from customers for sale of online/digital materials, which revenue is recognised over time throughout the agreed period. The contract liabilities are expected to be recognised as revenue over a period of 180 days or 365 days. Significant changes to contract liabilities balances during the financial year are as follows: Group 2021 2020 RM’000 RM’000 Contract liabilities at the beginning of the period recognised as revenue 1,940 1,239 15. TRADE AND OTHER RECEIVABLES Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Current Trade Trade receivables 39,174 46,656 - - Less: Impairment loss (5,507) (9,668) - - 33,667 36,988 - - Non-trade Amount due from subsidiaries - - 29,174 23,527 Less: Impairment loss - - (3,233) - Other receivables and deposits 5,644 3,270 2 2 5,644 3,270 25,943 23,529 39,311 40,258 25,943 23,529 Accrued income - 98 - - 39,311 40,356 25,943 23,529 (a) Trade and other receivables are classified as financial assets and are measured at amortised cost. (b) These are non-interest bearing and the normal credit terms granted by the Group and Company ranges from cash term to 90 days (2020: cash term to 90 days). Trade and other receivables are recognised at their original invoices amounts, which represent their fair values on initial recognition. (c) Trade and other receivables are denominated in Ringgit Malaysia. (d) Amounts due from subsidiaries are non-trade in nature, unsecured, interest free and repayable in cash and cash equivalents within the next twelve (12) months.