EXCEL FORCE MSC BERHAD 87 Notes to the Financial Statements (cont’d) 11. TRADE RECEIVABLES (CONT’D) 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 2021, 92% (2020: 83%) and 93% (2020: 83%) 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 2021, the Group’s and the Company’s gross trade receivables of RM252,376 (2020: RM973,695) and RM232,618 (2020: RM969,726) 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 theGroup that are individuallyassessed to be impaired amounting to RM21,498 (2020: RM21,498), 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 (2020: 4) customers that owed to the Group and to the Company for approximately 63% (2020: 61%) and 65% (2020: 63%) respectively of total gross trade receivables at the end of the reporting period. 12. OTHER RECEIVABLES Group Company 2021 2020 2021 2020 RM RM RM RM Other receivables 146,938 100,060 135,741 92,240 Deposits 21,245,061 24,221,891 21,245,061 24,221,891 Prepayments 727,266 1,083,930 710,385 1,149,443 22,119,265 25,405,881 22,091,187 25,463,574 Included in deposits of the Group and of the Company is an amount of RM20,922,900 (2020: RM23,900,000) represents refundable deposits paid for renovation of office and acquisition of shares. 13. AMOUNT DUE FROM SUBSIDIARY COMPANIES This represents unsecured, non-interest bearing advances and repayable on demand. 14. DEPOSITS, CASH AND BANK BALANCES AND SHORT-TERM FUNDS Group Company 2021 2020 2021 2020 RM RM RM RM Cash in hand 7,155 7,009 6,651 6,505 Cash at banks 21,692,519 2,762,847 19,488,526 2,035,311 Fixed deposits with licensed banks 216,331 207,568 216,331 207,568 21,916,005 2,977,424 19,711,508 2,249,384 Short-term funds At fair value through profit or loss - Investments in fixed income trust funds in Malaysia 10,440,367 19,875,977 10,440,367 19,875,977 32,356,372 22,853,401 30,151,875 22,125,361
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