18. TRADE AND OTHER RECEIVABLES (CONTINUED) The ageing of the Group’s trade receivables is as follows: Group Gross amount Expected loss rate Loss allowance 2025 2024 2025 2024 2025 2024 $ $ % % $ $ Current 20,302,997 19,631,739 – – – – Past due less than 1 month 2,253,281 2,460,367 – – – – Past due 1 to 2 months 713,384 498,312 – – – – Past due 2 to 3 months 197,234 159,938 – – – – Past due 3 to 4 months 40,909 50,717 – – – – Past due 4 to 6 months 49,184 27,841 – 0.3 – 88 Past due over 6 months, invoice aged less than 1 year 18,033 43,528 9.4 11.6 1,696 5,049 Past due over 6 months, invoice aged over 1 year 326,088 427,158 100.0 100.0 326,088 427,158 Total 23,901,110 23,299,600 327,784 432,295 Excluding receivables from subsidiaries, the ageing of the Company’s trade receivables is as follows: Company Gross amount Expected loss rate Loss allowance 2025 2024 2025 2024 2025 2024 $ $ % % $ $ Current 5,561,627 5,750,996 – – – – Past due less than 1 month 546,982 950,676 – – – – Past due 1 to 2 months 143,457 38,586 – – – – Past due 2 to 3 months 25,606 – – – – – Past due 3 to 4 months 5,229 – – – – – Past due 4 to 6 months – – – – – – Past due over 6 months, invoice aged less than 1 year – – – – – – Past due over 6 months, invoice aged over 1 year 49,033 49,094 100.0 100.0 49,033 49,094 Total 6,331,934 6,789,352 49,033 49,094 There are no collateral held as security and other credit enhancements for the trade receivables held by the Group and Company. The amounts are written off when there are indications that there is no reasonable expectation of recovery or the failure of a debtor to make contractual payments over an extended year. Other receivables are normally with no fixed terms and therefore there is no maturity. Except for the other receivables from subsidiaries of $1,099,000 (2024: $1,435,000) 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. MEGACHEM LIMITED ANNUAL REPORT 2025 152 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2025
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