Wah Seong Corporation Berhad Annual Report 2018

18 TRADE AND OTHER RECEIVABLES (CONTINUED) Ageing analysis of trade receivables (under MFRS 139) The ageing analysis of the Group’s trade receivables is as follows: Gross trade Impairment Net trade receivables loss receivables RM’000 RM’000 RM’000 2017 Not past due 145,027 - 145,027 1 to 30 days overdue 82,307 - 82,307 31 to 60 days overdue 62,959 - 62,959 61 to 90 days overdue 34,864 - 34,864 91 to 180 days overdue 40,991 - 40,991 181 to 365 days overdue 8,794 - 8,794 More than 365 days overdue 24,873 (18,433) 6,440 Total 399,815 (18,433) 381,382 Receivables that are neither past due nor impaired Trade and other receivables of the Group and the Company that are not impaired are in respect of creditworthy debtors with reliable payment records and have a low risk of default. Most of the Group’s trade receivables arise from customers with more than 5 years of experience with the Group. None of the Group’s trade receivables that are neither past due nor impaired have been renegotiated during the financial year. The movements in the allowance for impairment loss of trade receivables during the financial year are as follows: Group 2018 2017 RM’000 RM’000 As previously reported at 31 December 18,433 19,748 Effects of adoption of MFRS 9 2,325 - As restated at 1 January 20,758 19,748 Impairment loss recognised 4,397 1,423 Impairment loss reversed (1,405) (1,247) Bad debts written off (343) (718) Effect of exchange rate changes 139 (773) At 31 December 23,546 18,433 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. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 ANNUAL REPORT 2018 145