137 ANNUAL REPORT 2024 Notes to The Financial Statements 31 December 2024 18. Trade and other receivables (cont’d) Other receivables are normally with no fixed terms and therefore there is no maturity. Except for the other receivables from subsidiaries of $1,435,000 (2023: $1,341,000) that management had determined they are credit impaired, the other receivables are regarded as of low credit risk as the debtors have strong capacities to meet their contractual cash flow obligations in the near term. As at end of the reporting year, no loss allowance is needed. (i) Trade receivables that are neither past due nor impaired Trade receivables that are neither past due nor impaired are substantially companies with a good collection track record with the Group. The Group’s and Company’s non-related party trade receivables not past due include receivables that amounted to $19,619,000 (2023: $18,886,000) and $5,739,000 (2023: $6,452,000) respectively. (ii) Trade receivables that are past due but not impaired The age analysis of non-related party trade receivables past due but not impaired is as follows: Group Company 2024 2023 2024 2023 $000 $000 $000 $000 Past due less than 1 month 2,460 3,286 951 1,650 Past due 1 to 2 months 498 536 38 91 Past due 2 to 3 months 160 125 – – Past due 3 to 4 months 51 54 – – Past due over 4 months 67 55 – – Total 3,236 4,056 989 1,741 (iii) Trade receivables that are past due and impaired The carrying amount of non-related party trade receivables determined to be impaired and the movement in the related allowance for impairment are as follows: Group Company 2024 2023 2024 2023 $000 $000 $000 $000 Gross amount 432 416 49 50 Less: allowance for impairment – ECL (432) (383) (49) (17) Less: allowance for impairment – specific – (33) – (33) Total – – – – Movements in allowance for impairment during the year: Balance at beginning of year 416 559 50 24 Currency translation differences 8 (7) – – Additions 79 62 – 33 Bad debt written off against allowance (7) (93) – – Bad debt recovered (64) (105) (1) (7) Balance at end of year 432 416 49 50
RkJQdWJsaXNoZXIy NTkwNzg=