243 INTEGRATED ANNUAL REPORT 2024 Key Messages Financial Statements Other Information NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 Overview of Wasco Berhad Value Creation Commitment to Governance Sustainability Journey 13 TRADE AND OTHER RECEIVABLES (CONTINUED) Group Company 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Non-current Deposits 4,410 3,603 - - Credit risk concentration profile The Group determines concentration of credit risk by monitoring the business segment of its trade receivables on an ongoing basis. The credit risk concentration profile of the Group’s trade receivables at the reporting date is as follows: Group 2024 RM’000 2023 RM’000 Energy Services 448,209 408,808 Bioenergy Services 38,463 35,233 Trading 43,367 - Total 530,039 444,041 Concentration of credit risk is low within the Energy Services segment which primarily trade with oil majors. However, the Group considers the risk of default by these oil majors to be minimal given their relative size and financial strength. There is no concentration of credit risk within the Bioenergy Services and Trading as the balances are distributed over a large number of customers. The following table contains an analysis of the credit risk exposure for which expected credit loss is recognised: Gross trade receivables RM’000 Expected credit loss RM’000 Net trade receivables RM’000 2024 Not past due 337,392 (10) 337,382 1 to 30 days overdue 83,174 (28) 83,146 31 to 60 days overdue 38,048 (4,256) 33,792 61 to 90 days overdue 19,739 (3,511) 16,228 91 to 180 days overdue 8,573 (737) 7,836 181 to 365 days overdue 54,166 (2,954) 51,212 More than 365 days overdue 15,134 (14,691) 443 Total 556,226 (26,187) 530,039
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