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Datasonic Group Berhad
(Company No. 809759-X)
139
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
(Continued)
46. FINANCIAL INSTRUMENTS (CONT’D)
46.1 FINANCIAL RISK MANAGEMENT POLICIES (CONT’D)
(b) Credit Risk (Cont’d)
The Group uses ageing analysis to monitor the credit quality of the trade receivables.
Any receivables having significant balances past due or more than 180 days, which are
deemed to have higher credit risk, are monitored individually.
The Group establishes an allowance for impairment that represents its estimate of losses in
respect of the trade and other receivables as appropriate. The main components of this
allowance are a specific loss component that relates to individually significant exposures,
and a collective loss component established for groups of similar assets in respect of losses
that have been incurred but not yet identified (where applicable). Impairment is estimated
by management based on prior experience and the current economic environment.
The Company provides financial guarantee to financial institutions for credit facilities
granted to certain subsidiaries. The Company monitors the results of these subsidiaries
regularly and repayments made by the subsidiaries.
(i)
Credit Risk Concentration Profile
The Group’s major concentration of credit risk relates to the amounts owing by two
(2) customers which constituted approximately 81% of its trade receivables at the
end of the financial year.
(ii) Exposure to Credit Risk
At the end of the financial year, themaximumexposure to credit risk is represented by
the carrying amount of each class of financial assets recognised in the statement of
financial position of the Group and of the Company after deducting any allowance
for impairment losses (where applicable).
(iii) Ageing Analysis
The ageing analysis of the Group’s trade receivables (excluding accrued income)
at the end of the financial year/period is as follows:-
Gross
Individual
Carrying
Amount
Impairment
Value
Group
RM’000
RM’000
RM’000
2016
Not past due
11,302
–
11,302
Past due:
- 31 to 60 days
7,872
–
7,872
- 61 to 90 days
6,870
–
6,870
- over 90 days
33,378
(596)
32,782
59,422
(596)
58,826