Wah Seong Corporation Berhad Annual Report 2019

153 ANNUAL REPORT 2019 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 17 TRADE AND OTHER RECEIVABLES (CONTINUED) 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 2019 2018 RM’000 RM’000 At 1 January 23,546 20,758 Impairment loss recognised 5,122 4,397 Impairment loss reversed (3,213) (1,405) Bad debts written off (4,073) (343) Effect of exchange rate changes 4 139 At 31 December 21,386 23,546 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. The movements in the Group’s and the Company’s allowance for impairment loss of other receivables during the financial year are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 At 1 January 16,845 17,075 1,109 900 Impairment loss recognised 16,117 498 6,753 209 Impairment loss reversed - (234) - - Bad debts written off (33) (523) - - Effect of exchange rate changes (48) 29 - - At 31 December 32,881 16,845 7,862 1,109 The Group’s trade receivables exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk were: Group 2019 2018 RM’000 RM’000 Gross trade receivables - United States Dollar 62,750 37,269 - Euro Dollar 4,712 5,081 - Japanese Yen 1,895 742 - Singapore Dollar 551 432 - Indonesian Rupiah 15 578 69,923 44,102