MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS MISC BERHAD | Annual Report 2017 250 21. TRADE AND OTHER RECEIVABLES (CONT'D.) The analysis of trade receivables as at the reporting date is as follows: Group Corporation 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 Neither past due nor impaired 832,335 926,475 405,973 175,677 Past due but not impaired 1-30 days 161,091 244,856 19,029 64,385 31-60 days 93,253 48,469 12,085 46,270 61-90 days 28,658 36,292 128,693 19,468 more than 90 days 771,555 973,985 82,866 402,795 1,886,892 2,230,077 648,646 708,595 Impaired 457,822 312,570 200,567 93,564 2,344,714 2,542,647 849,213 802,159 Receivables that are neither past due nor impaired Trade receivables that are neither past due nor impaired are credit worthy debtors with good payment records with the Group and the Corporation. Receivables that are past due but not impaired The Group and the Corporation have trade receivables that are past due at the reporting date but not impaired amounting to RM1,054,557,000 (2016: RM1,303,602,000) and RM242,673,000 (2016: RM532,918,000) respectively. These balances relate mainly to customers who have never defaulted on payments but are slow paymasters and hence, are periodically monitored. 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 ageing of trade receivable balances) are considered indicators that the trade receivable is impaired. Individual debtor balance 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 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 At 1 January 312,570 194,761 93,564 91,947 Impairment loss recognised (Note 5) 190,125 201,400 126,643 4,691 Write-back of impairment loss (6,399) (2,441) (3,887) (2,441) Bad debts written off - (7,857) - - Disposal of a subsidiary - (35,214) - - Currency translation differences (38,474) (38,079) (15,753) (633) At 31 December 457,822 312,570 200,567 93,564