FINANCIAL STATEMENTS (continued) 100 14. CONTRACT WITH CUSTOMERS (continued) (b) Contract liabilities Group 2022 2021 RM’000 RM’000 Contract liabilities 830 1,841 The contract liabilities primarily relate to the advance consideration received from customers for sale of online/digital materials, which revenue is recognised over time throughout the agreed period. The contract liabilities are expected to be recognised as revenue over a period of 180 days or 365 days. Significant changes to contract liabilities balances during the financial year are as follows: Group 2022 2021 RM’000 RM’000 Contract liabilities at the beginning of the period recognised as revenue 1,841 1,940 15. TRADE AND OTHER RECEIVABLES Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Current Trade Trade receivables 37,645 39,174 - - Less: Impairment loss (3,815) (5,507) - - 33,830 33,667 - - Non-trade Amount due from subsidiaries - - 34,316 29,174 Less: Impairment loss - - (3,103) (3,233) Other receivables and deposits 1,706 5,644 2 2 1,706 5,644 31,215 25,943 35,536 39,311 31,215 25,943 (a) Trade and other receivables are classified as financial assets and are measured at amortised cost. (b) These are non-interest bearing and the normal credit terms granted by the Group and Company ranges from cash term to 90 days (2021: cash term to 90 days). Trade and other receivables are recognised at their original invoices amounts, which represent their fair values on initial recognition. (c) Trade and other receivables are denominated in Ringgit Malaysia. (d) Amounts due from subsidiaries are non-trade in nature, unsecured, interest free and repayable in cash and cash equivalents within the next twelve (12) months. 100 SASBADI HOLDINGS BERHAD
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