Wah Seong Corporation Berhad Annual Report 2019

154 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 17 TRADE AND OTHER RECEIVABLES (CONTINUED) The Group’s and the Company’s other receivables, deposits and prepayments exposure to foreign currency (a currency which is other than the functional currency of the Group entities and the Company) risk were: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Gross other receivables, deposits and prepayments - United States Dollar 40,019 34,360 12,266 12,415 - British Pound 2,338 - - - - Ringgit Malaysia 1,801 - - - - Singapore Dollar 1,353 552 - - - China Renminbi 710 - - - - Euro Dollar 593 12,615 - - - Norwegian Kroner 376 405 - - - Indonesian Rupiah 341 1,882 - - 47,531 49,814 12,266 12,415 18 AMOUNTS OWING BY/(TO) SUBSIDIARIES (a) Amounts owing by subsidiaries Company 2019 2018 RM’000 RM’000 Interest bearing loans (unsecured) 201,864 202,702 Interest free advances (unsecured) 10,379 4,255 212,243 206,957 Less: Allowance for impairment loss (43,106) (43,106) 169,137 163,851 The effective interest rate of interest bearing loans as at 31 December 2019 ranges between 4.25% to 8.85% (2018: 4.80% to 8.85%) per annum. The loans and advances are recoverable on demand. There is no impairment of amounts owing by subsidiaries as the rate of default and expected loss rate is low. The Company’s amounts owing by subsidiaries exposure to foreign currency (a currency which is other than the functional currency of the Company) risk were: Company 2019 2018 RM’000 RM’000 - United States Dollar 52,745 119,657