EXCEL FORCE MSC BERHAD 85 Notes to the Financial Statements (cont’d) 11. TRADE RECEIVABLES Group Company 2021 2020 2021 2020 RM RM RM RM Trade receivables 3,265,363 6,031,303 3,166,736 5,830,491 Less: Accumulated impairment losses (73,975) (183,391) (51,305) (159,878) 3,191,388 5,847,912 3,115,431 5,670,613 Trade receivables are non-interest bearing and are generally on 60 to 90 days (2020: 60 to 90 days) term. They are recognised at their original invoice amounts which represent their fair values on initial recognition. Movements in the allowance for impairment losses of trade receivables are as follows: Lifetime allowance Credit impaired Loss allowance RM RM RM Group At 1 January 2021 161,893 21,498 183,391 Impairment losses reversed (109,416) *- (109,416) At 31 December 2021 52,477 21,498 73,975 At 1 January 2020 168,500 29,931 198,431 Impairment losses reversed (6,607) *(8,433) (15,040) At 31 December 2020 161,893 21,498 183,391 Company At 1 January 2021 159,878 - 159,878 Impairment losses reversed (108,573) - (108,573) At 31 December 2021 51,305 - 51,305 At 1 January 2020 163,445 - 163,445 Impairment losses reversed (3,567) - (3,567) At 31 December 2020 159,878 - 159,878 * Impairment losses reversed during the financial year when the related amounts were collected. The loss allowance account in respect of trade receivables is used to record loss allowance. Unless the Group and the Company are satisfied that recovery of the amount is possible, the amount considered irrecoverable is written off against the receivable directly.
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