137 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 20. TRADE AND OTHER RECEIVABLES (Cont’d) (m) As at the end of each reporting period, no collateral has been obtained by the Group. Thus, the maximum credit risk exposure is equivalent to the gross carrying amount of trade receivables of the Group. (n) During the financial year, the Group did not renegotiate the term of any trade receivables. (o) The reconciliation of movement in the impairment losses are as follows: Group Company 2021 2020 2021 2020 RM RM RM RM Trade receivables Balance as at 1 January 11,506,477 13,698,566 1,710,098 4,660,514 Charge for the financial year 5,985,713 7,301,977 23,351 181,580 Reversal of impairment losses (7,859,845) (9,432,736) (21,792) (3,131,996) Written off (1,946) (104,654) - - Exchange differences (62,396) 43,324 - - Balance as at 31 December 9,568,003 11,506,477 1,711,657 1,710,098 Other receivables Balance as at 1 January 1,280,396 353,576 32,489,515 31,470,760 Charge for the financial year - 1,148,469 2,086,075 6,865,612 Reversal of impairment losses (403,450) (62,783) (16,454,497) (5,687,991) Reclassification to equity loan - - (9,333,079) - Written off - (158,866) - (158,866) Balance as at 31 December 876,946 1,280,396 8,788,014 32,489,515 10,444,949 12,786,873 10,499,671 34,199,613 (p) The Group determines concentration of credit risk by monitoring the country profiles of its trade receivables on an ongoing basis. The credit risk concentration profile of the trade receivables of the Group at the end of each reporting period are as follows: 2021 2020 RM % of total RM % of total By country Malaysia 55,622,048 86 38,295,340 83 Philippines 5,043,069 8 1,489,919 3 Thailand 3,099,090 5 5,181,280 11 Australia - - 603,951 2 Singapore 58 - 102 - Cambodia 365,703 1 4,000 1 Indonesia 792 - - - United States 833 - - - 64,131,593 100 45,574,592 100
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