GHL System Berhad Annual Report 2017

ANNUAL REPORT 2017 103 NOTES TO THE FINANCIAL STATEMENTS 31 December 2017 CONT’D 19. TRADE AND OTHER RECEIVABLES Group Company 2017 2016 2017 2016 RM RM RM RM Trade receivables Third parties 56,069,089 40,294,237 3,414,351 3,842,435 Subsidiaries - - 11,503,876 11,907,569 56,069,089 40,294,237 14,918,227 15,750,004 Accumulated impairment losses - third parties (7,955,623) (8,686,814) (1,254,871) (1,254,871) - subsidiaries - - (3,239,485) (5,017,963) (7,955,623) (8,686,814) (4,494,356) (6,272,834) 48,113,466 31,607,423 10,423,871 9,477,170 Other receivables Other receivables 17,518,775 16,245,739 906,661 349,470 Amounts owing by subsidiaries - - 61,335,869 69,951,265 Deposits 1,090,817 2,149,957 114,809 84,409 18,609,592 18,395,696 62,357,339 70,385,144 Accumulated impairment losses - other receivables (230,436) (230,436) (158,866) (158,866) - amounts owing by subsidiaries - - (26,932,345) (26,722,613) (230,436) (230,436) (27,091,211) (26,881,479) 18,379,156 18,165,260 35,266,128 43,503,665 Loans and receivables 66,492,622 49,772,683 45,689,999 52,980,835 Prepayments 2,449,991 1,844,182 698,585 654,198 68,942,613 51,616,865 46,388,584 53,635,033 (a) Financial assets classified as loans and receivables are measured at amortised cost using the effective interest method. (b) Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group and the Company ranges from 30 to 180 days (2016: 30 to 180 days). They are recognised at their original invoice amounts which represent their fair values on initial recognition. (c) Amounts owing by subsidiaries are unsecured, payable upon demand in cash and cash equivalents and interest-free.