EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 87 notes to the financial statements 31 december 2019 (cont’d) 13. Trade Receivables (Cont’d) The aged analysis of trade receivables as at the end of the reporting period are as follows: (Cont’d) Gross amount Loss allowance Net amount RM RM RM Company 2018 Neither past due nor impaired 3,290,140 (44,990) 3,245,150 Past due but not impaired Less than 30 days 756,874 (20,693) 736,181 31 to 60 days 23,500 (964) 22,536 More than 60 days 1,095,004 (59,875) 1,035,129 1,875,378 (81,532) 1,793,846 5,165,518 (126,522) 5,038,996 Trade receivables of the Group and of the Company that are past due are creditworthy receivables with good payment records with the Group and the Company. As at 31 December 2019, 67% (2018: 64%) and 67% (2018: 64%) of the trade receivables of the Group and of the Company respectively have never defaulted. These customers maintain a long working relationship with the Group. As at 31 December 2019, the Group’s and the Company’s trade receivables of RM1,699,032 (2018: RM1,820,924) and RM1,654,676 (2018: RM1,793,846) were past due. These mainly arose from active corporate clients with healthy business relationship but slower repayment records, in which the management is of the view that the amount are recoverable based on past payment history. The trade receivables that are past due are unsecured in nature. The trade receivables of the Group that are individually assessed to be impaired amounting to RM29,931 (2018: RM29,931), relate to customers that are in financial difficulties and/or, have defaulted on payments. These balances are expected to be recovered through the debts recovery process. At the end of the reporting period, the Group and the Company have 3 (2018: 4) customers that owed to the Group and to the Company for approximately 54% (2018: 55%) and 56% (2018: 57%) respectively of all the receivables outstanding. 14. Other Receivables Group Company 2019 2018 2019 2018 RM RM RM RM Other receivables 75,357 86,742 68,974 74,511 Deposits 24,199,125 250,722 24,199,125 250,722 Prepayments 1,384,110 1,075,691 1,371,662 1,062,917 GST receivable - - - 5,086 25,658,592 1,413,155 25,639,761 1,393,236 Included in deposits is an amount of RM23,900,000 (2018: RM Nil) represents refundable deposits paid for renovation of office and acquisition of shares.