138 MEGACHEM LIMITED Notes to The Financial Statements 31 December 2024 18. Trade and other receivables (cont’d) (iii) Trade receivables that are past due and impaired (cont’d) The carrying amount of trade and other receivables from subsidiaries determined to be impaired, and the movement in the related allowance for impairment are as follows: Company 2024 2023 $’000 $’000 Gross amount 3,540 3,540 Less: allowance for impairment (3,540) (3,540) Total – – Movements in allowance for impairment during the year: Balance at beginning and end of year 3,540 3,540 (iv) Concentration of credit risk The number of debtors that individually represented 5-10% of non-related party trade receivables are as follows: Group Company 2024 2023 2024 2023 Number of debtors that represent: 5-10% of non-related party trade receivables None 1 None 3 There is no concentration of credit risk with respect to trade receivables as there are a large number of customers. (v) Credit risk exposure The credit risk for non-related party trade receivables by geographical areas is as follows: Group Company 2024 2023 2024 2023 $’000 $’000 $’000 $’000 By geographical areas Africa 6 98 6 98 America 32 21 14 24 ASEAN 12,587 13,757 6,310 7,770 Australia 1,254 1,491 30 – Middle East 2,890 2,691 38 39 North Asia 3,691 2,424 267 240 South Asia 829 950 99 34 UK and Europe 1,998 1,926 13 38 Total non-related party trade receivables 23,287 23,358 6,777 8,243
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