Wah Seong Corporation Berhad Annual Report 2020

156 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 18 AMOUNTS OWING BY/(TO) ASSOCIATES (a) Amounts owing by associates Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Trade accounts 14,115 16,848 - - Advances 3,523 3,538 38 26 17,638 20,386 38 26 Less: Allowance for impairment loss (158) - (38) - 17,480 20,386 - 26 Trade accounts are unsecured, interest free and recoverable within the normal credit period. The advances are unsecured, interest free and recoverable on demand. The movements in the Group’s and the Company’s allowance for impairment loss of amount owing by associates during the financial year are as follows: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 At 1 January - - - - Impairment loss recognised 158 - 38 - At 31 December 158 - 38 - The Group has no significant exposure to foreign currency risk for the amounts owing by associates. The Company’s amounts owing by associates is non-trade in nature, unsecured, interest free and recoverable on demand. As at 31 December 2020 and 31 December 2019, the Company has no exposure to foreign currency risk for the amounts owing by associates. (b) Amounts owing to associates The Group’s amounts owing to associates is non-trade in nature, unsecured, interest free and repayable on demand. The Group has no significant exposure to foreign currency risk for the amounts owing to associates.