EXCEL FORCE MSC BERHAD Annual Report 2020

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 90 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CONT’D) 12. TRADE RECEIVABLES (CONT’D) The ageing 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 2019 Not past due 3,546,230 (58,880) 3,487,350 Past due Less than 30 days 342,096 (11,359) 330,737 31 to 60 days 54,770 (2,728) 52,042 More than 60 days 1,362,375 (90,478) 1,271,897 1,759,241 (104,565) 1,654,676 5,305,471 (163,445) 5,142,026 Trade receivables of the Group and of the Company that are not past due nor individually impaired are creditworthy receivables with good payment records with the Group and the Company. As at 31 December 2020, 83% (2019: 67%) and 83% (2019: 67%) 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 2020, the Group’s and the Company’s gross trade receivables of RM973,695 (2019: RM1,805,727) and RM969,726 (2019: RM1,759,241) were past due but not individually impaired. 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 RM21,498 (2019: 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. The Group and the Company have 4 (2019: 3) customers that owed to the Group and to the Company for approximately 61% (2019: 54%) and 63% (2019: 56%) respectively of total gross trade receivables at the end of the reporting period. 13. OTHER RECEIVABLES Group Company 2020 2019 2020 2019 RM RM RM RM Other receivables 100,060 75,357 92,240 68,974 Deposits 24,221,891 24,199,125 24,221,891 24,199,125 Prepayments 1,083,930 1,384,110 1,149,443 1,371,662 25,405,881 25,658,592 25,463,574 25,639,761 Included in deposits is an amount of RM23,900,000 (2019: RM23,900,000) represents refundable deposits paid for renovation of office and acquisition of shares.