Yinson Annual Report 2021

268 YINSON HOLDINGS BERHAD SECTION 07 : ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 24. Trade and other receivables (continued) Group Company 2021 2020 2021 2020 RM million RM million RM million RM million Non-current: Other receivables Refundable deposits 8 - - - Sundry receivables 102 - - - Loans to subsidiaries - interest bearing - - 14 401 - non-interest bearing - - 43 239 110 - 57 640 Accumulated impairment loss - - (31) (31) 110 - 26 609 Total trade and other receivables 608 500 496 1,612 Trade receivables are non-interest bearing and are generally on 30 (2020: 30) day terms. They are recognised at their original invoice amounts which represent their fair values on initial recognition. (a) Trade receivables Movement for trade receivables allowance for impairment accounts: Group 2021 2020 RM million RM million At 1 February 9 10 Charge for the financial year - 1 Reversal of impairment loss - (2) Exchange differences (1) - At 31 January 8 9 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 sundry receivables is an amount of RM96 million (USD24 million) (2020: Nil) relating to a contractual settlement arrangement with a customer for receivables relating to an FPSO project, which is unsecured and repayable over a period of 7 years. The amount receivable was adjusted to its fair value upon initial recognition, and is subsequently carried at amortised cost. As at 31 January 2021, the amounts classified as current and non-current were RM8 million (USD2 million) (2020: Nil) and RM88 million (USD22 million) (2020: Nil) respectively. Also included in sundry receivables is an accrued reimbursable recoverable income totalling RM7 million (2020: RM7 million) representing the Group's rights to be compensated under the contractual terms with the customer for the additional tax expense incurred. Amounts due from joint ventures are unsecured and bear interest of 5.22% to 6.58% (2020: 6.73% to 8.97%) per annum. These amounts are denominated in USD.