MISC BERHAD - Annual Report 2014 p 248 20. Trade and other receivables (cont’d.) Significant financial difficulties of the debtors, probability that the debtors will enter bankruptcy or financial reorganisation, and default or delinquency in payments (more than 90 days aging of trade receivable balances) are considered indicators that the trade receivable is impaired. Individual debtor is written off when management deemed the amount to be not collectible. Trade receivables that were impaired at the reporting date and the movement of the allowance accounts used to record the impairment are as follows: Group Corporation 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 At 1 January 131,879 119,046 76,491 71,202 Impairment loss recognised: Third parties 9,267 12,816 – – Write-back of impairment loss: Third parties (10,639) (4,136) – – Bad debts written off: – – – – Third parties (5,323) – – – Currency translation differences (6,496) 4,153 4,750 5,289 At 31 December 118,688 131,879 81,241 76,491 (a) Trade receivables The Group’s trading terms with its customers are mainly on credit, except for new customers, where advance payments are normally required. The Group’s normal trade credit terms range from 7 to 90 days (2013: 7 to 90 days). Other credit terms are assessed and approved on a case-by-case basis and each customer is assigned a maximum credit limit. (b) Amounts due from Group companies The trade amounts due from holding company, fellow subsidiaries and subsidiaries are unsecured with credit terms ranging from 15 to 30 days (2013: 15 to 30 days). (c) Amounts due from associates and joint ventures The trade amounts due from associates and joint ventures are unsecured and have normal credit terms ranging from 15 to 30 days (2013: 15 to 30 days). The non-trade balances are repayable on demand and are noninterest bearing. NOTESTOTHE FINANCIAL STATEMENTS - 31 December 2014
RkJQdWJsaXNoZXIy NDgzMzc=