Annual Report 2022 137 ABOUT US LEADERSHIP PERSPECTIVE SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS Other Information Notes to the Financial Statements for the Financial Year Ended 31 March 2022 (Cont’d) 11. DEVELOPMENT EXPENDITURE (cont’d) (i) Budgeted gross margin Gross margin is the forecasted margin as a percentage of revenue over the five-year (2021 - three- to five-year) projection periods which were determined based on the expectations of market development and, adjusted for market and economic conditions, internal resource efficiency, where applicable. (ii) Growth rate Based on the expected projection of the customised software and hardware systems business. (iii) Discount rate (pre-tax) Reflects specific risks relating to the relevant cash-generating unit. 12. TRADE RECEIVABLES Group 2022 2021 RM’000 RM’000 Trade receivables 33,481 30,316 Allowance for impairment losses (7,562) (3,906) 25,919 26,410 Accrued income 24,846 12,156 50,765 38,566 The trade receivables are made up of:- (a) Non-current: Trade receivables 1,436 2,111 Accrued income 710 3,183 2,146 5,294 (b) Current: Trade receivables 24,483 24,299 Accrued income 24,136 8,973 48,619 33,272 50,765 38,566 Allowance for impairment losses:- At 1 April 2021/2020 (3,906) (3,612) Addition (Note 37) (3,656) (297) Write back - 3 Written off - # At 31 March 2022/2021 (7,562) (3,906) The Group’s normal trade credit terms range from 30 to 90 (2021 - 30 to 90) days. Other credit terms are assessed and approved on a case-by-case basis. The allowance for impairment losses is made on those trade receivables from those companies which are in serious financial difficulties and which have defaulted on payments.
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