Tropicana Corporation Berhad Annual Report 2020

23. TRADE AND OTHER RECEIVABLES Group Company 2020 2019 2020 2019 RM'000 RM'000 RM'000 RM'000 Non-current Other receivables Sundry receivables 12,809 5,118 – – Security retainers accumulation fund (Note 23(b)(i)) 5,263 5,176 – – Amount due from a subsidiary (Note 23(b)(ii)) – – 1,207,389 389 18,072 10,294 1,207,389 389 Current Trade receivables Third parties 274,223 238,982 – – Amounts due from subsidiaries – – 34,184 37,590 Less: Accumulated impairment losses (7,250) (8,860) – – Trade receivables, net 266,973 230,122 34,184 37,590 Other receivables Sundry receivables 113,574 102,019 27,729 23,995 Deposits (Note 23(b)(iii)) 142,217 115,153 247 764 Prepayments 4,527 7,373 24 22 Amounts due from subsidiaries (Note 23(b)(ii)) – – 1,532,892 1,500,774 Amounts due from joint ventures (Note 23(b)(ii)) 3,838 1,207 6 – Less: Accumulated impairment losses (Note 23(b)(v)) - Sundry receivables (13,059) (13,119) (8,859) (8,859) 251,097 212,633 1,552,039 1,516,696 518,070 442,755 1,586,223 1,554,286 Total trade and other receivables 536,142 453,049 2,793,612 1,554,675 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 (2019: 7 to 180 days) and 30 days (2019: 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 2020 2019 2020 2019 RM'000 RM'000 RM'000 RM'000 Neither past due nor impaired 134,508 176,697 844 4,801 1 to 30 days past due but not impaired 22,848 21,934 1,068 2,309 31 to 60 days past due but not impaired 17,810 3,523 965 160 61 to 90 days past due but not impaired 157 2,700 882 1,975 91 to 120 days past due but not impaired 9,186 2,366 822 2,125 More than 121 days past due but not impaired 82,464 22,902 29,603 26,220 Total past due but not impaired 132,465 53,425 33,340 32,789 Impaired 7,250 8,860 – – 274,223 238,982 34,184 37,590 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. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 246 247