Wah Seong Corporation Berhad Annual Report 2019

151 ANNUAL REPORT 2019 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 15 INVESTMENT IN EQUITY INSTRUMENTS Investment in equity instruments is in relation to quoted shares in Malaysia held by the Group. Gains or losses arising from fair value changes of investment in equity instruments During the financial year, the Group recognised a loss of nil (2018: RM4,000) in the profit or loss arising from fair value changes of its investment in equity instruments. The method and assumptions applied in determining the fair value of financial assets are disclosed in Note 46. 16 INVENTORIES Group 2019 2018 RM’000 RM’000 Raw materials 100,498 148,422 Work-in-progress 67,702 96,659 Manufactured and trading goods 63,171 52,192 Consumables 29,780 24,792 Goods in transit 5,927 2,601 267,078 324,666 17 TRADE AND OTHER RECEIVABLES Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Gross trade receivables 333,912 277,826 - - Less: Allowance for impairment loss (21,386) (23,546) - - 312,526 254,280 - - Gross other receivables 117,732 216,017 13,724 13,876 Less: Allowance for impairment loss (32,881) (16,845) (7,862) (1,109) 84,851 199,172 5,862 12,767 Deposits 12,571 13,022 48 48 Prepayments 29,900 94,233 159 174 Total net receivables 439,848 560,707 6,069 12,989 Value added tax receivables amounting to RM15,885,000 (2018: RM109,008,000) are included within ‘gross other receivables’. The other receivables are considered performing except of amount of RM32,745,000 which is deemed underperforming and hence an ECL allowance of RM16,117,000 was made during the financial year.