Yinson Annual Report 2019

Yinson Holdings Berhad ANNUAL REPORT 2019 178 24. TRADE AND OTHER RECEIVABLES (CONTINUED) (a) Trade receivables (continued) Movement for trade receivables allowance for impairment accounts: Group 2019 2018 RM’000 RM’000 At 1 February 7,272 7,454 Impacts arising from application of MFRS 9 1,611 – At 1 February (restated) 8,883 7,454 Charge for the financial year 1,070 – Reversal of impairment loss – (649) Exchange differences 94 467 At 31 January 10,047 7,272 Trade receivables that are individually determined to be impaired at the reporting date related to debtors that are in significant financial difficulties and/or have defaulted on payments. These receivables are not secured by any collateral or credit enhancements. (b) Other receivables Included in other receivables is an accrued reimbursable recoverable income totalling RM7,276,000 (2018: RM21,625,000) representing the Group’s rights to be compensated under the contractual terms with the customer for the additional tax expense incurred. Amounts due from subsidiaries bearing interest of KLIBOR + 3.00% per annum are denominated in USD and RM. The amounts are unsecured and repayable upon demand, except for amounts of RM552,727,000 (2018: RM527,366,000) which are not expected to recover within the next 12 months. Amounts due fromsubsidiaries which are non interest bearing are denominated inUSDandRM. These amounts are unsecured and repayable upon demand, except for amounts of RM374,000,000 (2018: RM49,883,000) which are not expected to recover within next 12 months. Amounts due from joint ventures are unsecured and bear interest of 5.00% to 8.52% (2018: 4.50% to 5.77%) per annum. These amounts are denominated in USD. Other receivables that are impaired and provided for The Group’s other receivables that are individually impaired at the reporting date and the movement of the allowance accounts used to record the impairment are as follows: Group 2019 2018 RM’000 RM’000 Other receivables - 31 to 60 days past due and impaired 14,823 – - More than 121 days past due and impaired 30,325 23,469 Less: Allowance for impairment (45,148) (23,469) – – For the financial year ended 31 January 2019 Notes to the financial statements (cont’d)