18. TRADE AND OTHER RECEIVABLES (CONTINUED) (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 $20,282,000 (2024: $19,619,000) and $5,540,000 (2024: $5,739,000) 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 2025 2024 2025 2024 $ $ $ $ Past due less than 1 month 2,253,281 2,460,367 546,982 950,676 Past due 1 to 2 months 713,384 498,313 143,457 38,586 Past due 2 to 3 months 197,234 159,938 25,606 – Past due 3 to 4 months 40,909 50,717 5,229 – Past due over 4 months 65,521 66,231 – – Total 3,270,329 3,235,566 721,274 989,262 (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 2025 2024 2025 2024 $ $ $ $ Gross amount 327,784 432,295 49,033 49,094 Less: allowance for impairment – ECL (327,784) (432,295) (49,033) (49,094) Total – – – – Movements in allowance for impairment during the year: Balance at beginning of year 432,295 415,663 49,094 50,356 Currency translation differences (19,956) 8,256 – – Additions 22,274 78,860 – – Bad debt written off against allowance (16,887) (6,548) – – Bad debt recovered (89,942) (63,936) (61) (1,262) Balance at end of year 327,784 432,295 49,033 49,094 MEGACHEM LIMITED ANNUAL REPORT 2025 153 31 DECEMBER 2025 NOTES TO THE FINANCIAL STATEMENTS
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