Excel Force MSC Berhad Annual Report 2015

NOTES TO THE FINANCIAL STATEMENTS 31 December 2015 (cont’d) E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 79 12. INVENTORIES Group and Company 2015 2014 RM RM Replacement parts - At cost 79,497 64,587 During the financial year, inventories of the Group and the Company recognised as cost of sales amounted to RM689,939 (2014: RM365,308). 13. TRADE AND OTHER RECEIVABLES Group Company 2015 2014 2015 2014 RM RM RM RM Non-current Amount owing by a subsidiary - - 1,798,436 2,089,254 Current Trade receivables Third parties 7,263,263 5,908,450 6,895,976 5,809,860 Less: Impairment loss on trade receivables (49,600) (49,600) (49,600) (49,600) 7,213,663 5,858,850 6,846,376 5,760,260 Other receivables Amounts owing by subsidiaries - - 591,982 333,498 Other receivables 71,615 255,692 53,677 39,774 Deposits 275,677 276,017 253,302 253,302 347,292 531,709 898,961 626,574 Loans and receivables 7,560,955 6,390,559 7,745,337 6,386,834 Prepayments 350,625 589,943 308,419 563,732 7,911,580 6,980,502 8,053,756 6,950,566 7,911,580 6,980,502 9,852,192 9,039,820 (a) Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group and the Company range from 60 to 90 days (2014: 60 to 90 days) from the date of invoice. They are recognised at their original invoice amounts which represent their fair values on initial recognition. (b) The non-current amount owing by a subsidiary of RM1,798,436 (2014: RM2,089,254) represents loans which are unsecured, interest-free and have fixed repayment terms ranging from five (5) to nine (9) years and, are payable in cash and cash equivalents. Included in amounts owing by subsidiaries in other receivables is the current portion of RM393,120 (2014: RM196,560) of the above mentioned loan which is unsecured, interest-free and is payable in cash and cash equivalents within one (1) year. The remaining amounts owing by subsidiaries represent expenses paid on behalf which are unsecured, interest-free and payable in cash and cash equivalents.