Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 153 17 TRADE AND OTHER RECEIVABLES (CONTINUED) The movements in the allowance for impairment loss of trade receivables during the financial year are as follows: Group 2017 RM'000 2016 RM'000 At 1 January 19,748 15,528 Impairment loss recognised 1,423 9,567 Impairment loss reversed (1,247) (1,320) Impairment loss written off (718) (3,323) Disposal of a subsidiary - (904) Effect of exchange rate changes (773) 200 At 31 December 18,433 19,748 Trade receivables that are individually determined to be impaired at the reporting date relate to balances for which recoveries are doubtful. These receivables are not secured by any collateral. The movements in the Group and the Company’s allowance for impairment loss of other receivables during the financial year are as follows: Group Company 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 At 1 January 15,741 15,567 15 15 Impairment loss recognised 626 50 - - Impairment loss reversed (35) - - - Effect of exchange rate changes (142) 124 - - At 31 December 16,190 15,741 15 15 The Group’s trade receivables exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk, based on carrying amounts as at the end of the financial year, were: Group 2017 RM'000 2016 RM'000 Gross trade receivables - United States Dollar 56,589 42,788 - Indian Rupee 1,322 - - Euro Dollar 1,155 784 - Singapore Dollar 1,023 4,244 - Indonesian Rupiah 889 5,421 - Japanese Yen 835 3,812 - China Renminbi - 6,683 61,813 63,732