23. TRADE AND OTHER RECEIVABLES Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Non-current Other receivables Sundry receivables – 12,809 – – Security retainers accumulation fund (Note 23(b)(i)) 5,223 5,263 – – Amount due from a subsidiary (Note 23(b)(ii)) – – 1,500,389 1,207,389 5,223 18,072 1,500,389 1,207,389 Current Trade receivables Third parties 281,798 274,223 – – Amounts due from subsidiaries – – 20,039 34,184 Less: Accumulated impairment losses (13,877) (7,250) – – Trade receivables, net 267,921 266,973 20,039 34,184 Other receivables Sundry receivables 129,027 113,574 20,797 27,729 Deposits (Note 23(b)(iii)) 94,536 142,217 123 247 Prepayments 7,432 4,527 – 24 Amounts due from subsidiaries (Note 23(b)(ii)) – – 1,541,794 1,532,892 Amounts due from joint ventures (Note 23(b)(ii)) 788 3,838 20 6 Less: Accumulated impairment losses (Note 23(b)(v)) - Sundry receivables (14,380) (13,059) (8,859) (8,859) 217,403 251,097 1,553,875 1,552,039 485,324 518,070 1,573,914 1,586,223 Total trade and other receivables 490,547 536,142 3,074,303 2,793,612 23. TRADE AND OTHER RECEIVABLES (CONT’D.) (a) Trade receivables The Group’s and the Company’s normal trade credit term ranges from 7 to 180 days (2020: 7 to 180 days) and 30 days (2020: 30 days) respectively. Other credit terms are assessed and approved on a case-to-case basis. Trade receivables are noninterest bearing and are recognised at their original invoice amounts which represent their fair values on initial recognition. The Group and the Company have no significant concentration of credit risk t hat may arise from exposures to a single debtor or to groups of debtors. Ageing analysis of trade receivables The ageing analysis of the Group’s and of the Company’s trade receivables are as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Neither past due nor impaired 176,283 134,508 1,456 844 1 to 30 days past due but not impaired 26,408 22,848 1,475 1,068 31 to 60 days past due but not impaired 16,303 17,810 1,754 965 61 to 90 days past due but not impaired 3,779 157 1,850 882 91 to 120 days past due but not impaired 1,570 9,186 1,822 822 More than 121 days past due but not impaired 43,578 82,464 11,682 29,603 Total past due but not impaired 91,638 132,465 18,583 33,340 Impaired 13,877 7,250 – – 281,798 274,223 20,039 34,184 Receivables that are neither past due nor impaired Trade receivables that are neither past due nor impaired are creditworthy debtors with good payment records with the Group and the Company. None of the Group’s and of the Company’s trade receivables that are neither past due nor impaired have been renegotiated during the current and previous financial year. Receivables that are past due but not impaired The receivables that are past due but not impaired are mainly related to the progress billings to be settled by the end-buyers’ financiers. However, the directors are of the opinion that these debts should be realised in full without material losses in the ordinary course of business as the legal title to the properties sold remain with the Group and the Company until the purchase consideration is fully paid. FINANCIAL STATEMENTS NOTES TO THE For the financial year ended 31 December 2021 Annual Report 2021 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 302 303
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