Tropicana Corporation Berhad Annual Report 2019

23. TRADE AND OTHER RECEIVABLES (CONT’D.) (a) Trade receivables The Group’s and the Company’s normal trade credit term ranges from 7 to 180 days (2018: 14 to 180 days) and 30 days (2018: 30 days) respectively. Other credit terms are assessed and approved on a case-to-case basis. Trade receivables are non-interest bearing and are recognised at their original invoice amounts which represent their fair values on initial recognition. The Group and the Company have no significant concentration of credit risk that may arise from exposures to a single debtor or to groups of debtors. Ageing analysis of trade receivables The ageing analysis of the Group’s and of the Company’s trade receivables are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Neither past due nor impaired 176,697 209,571 4,801 5,944 1 to 30 days past due but not impaired 21,934 28,447 2,309 1,653 31 to 60 days past due but not impaired 3,523 14,901 160 1,355 61 to 90 days past due but not impaired 2,700 5,396 1,975 957 91 to 120 days past due but not impaired 2,366 7,112 2,125 6,991 More than 121 days past due but not impaired 22,902 63,103 26,220 16,112 Total past due but not impaired 53,425 118,959 32,789 27,068 Impaired 8,860 8,490 – – 238,982 337,020 37,590 33,012 Receivables that are neither past due nor impaired Trade receivables that are neither past due nor impaired are creditworthy debtors with good payment records with the Group and the Company. None of the Group’s and of the Company’s trade receivables that are neither past due nor impaired have been renegotiated during the current and previous financial year. Receivables that are past due but not impaired The receivables that are past due but not impaired are mainly related to the progress billings to be settled by the end-buyers’ financiers. However, the directors are of the opinion that these debts should be realised in full without material losses in the ordinary course of business as the legal title to the properties sold remain with the Group and the Company until the purchase consideration is fully paid. For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 204 About Tropicana Our Strategic Performance Our Leadership