MISC Annual Report 2019

20. INVENTORIES Group 2019 2018 RM’000 RM’000 At cost Bunkers, lubricants and consumable stores 114,771 205,376 Spares 44,880 37,430 Raw materials 6,080 7,224 165,731 250,030 The cost of inventories recognised as cost of sales during the financial year of the Group was RM915,284,000 (2018: RM922,861,000). 21. TRADE AND OTHER RECEIVABLES Group Corporation 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Trade receivables Third parties 2,603,223 2,662,819 517,724 663,441 Fellow subsidiaries 73,147 98,187 28,733 40,706 Associates 44 44 44 44 Joint ventures 30,952 44,888 26,532 32,182 2,707,366 2,805,938 573,033 736,373 Finance lease receivables (Note 19(d)) 1,387,678 1,247,158 71,840 67,115 Due from customers on contracts (Note 22) 39,137 221,286 – – 4,134,181 4,274,382 644,873 803,488 Less: Impairment loss on trade receivables: Third parties (641,334) (686,956) (355,655) (408,590) Joint ventures (22,154) (22,397) (22,154) (22,397) (663,488) (709,353) (377,809) (430,987) Trade receivables, net 3,470,693 3,565,029 267,064 372,501 21. TRADE AND OTHER RECEIVABLES (CONT’D.) Group Corporation 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Other receivables Amount due from related parties: Holding company 109 4,219 – 221 Subsidiaries – – 1,433,305 2,532,237 Fellow subsidiaries 9,297 46 – – Joint ventures 10,384 21,168 1,408 780 19,790 25,433 1,434,713 2,533,238 Deposits 10,058 9,946 2,315 2,341 Prepayments 193,875 116,559 6,765 1,695 Unbilled reimbursable expenses due from third parties – 5,686 – 5,686 Others 237,001 227,155 39,983 93,256 460,724 384,779 1,483,776 2,636,216 Less: Impairment loss on other receivables: Third parties (712) (608) (71) (174) Subsidiaries – – (3,629) (5,413) (712) (608) (3,700) (5,587) Other receivables, net 460,012 384,171 1,480,076 2,630,629 Total trade and other receivables 3,930,705 3,949,200 1,747,140 3,003,130 Add: Cash, deposits and bank balances (Note 23) 7,030,814 5,755,604 2,817,049 1,957,819 Add: Net loans and advances (Note 19(a)) – – 967,378 1,232,872 Add: Long term receivables (Note 19(a)) 113,511 122,964 – – Add: Long term finance lease receivables (Note 19(d)) 15,007,971 16,377,390 1,012,006 1,082,591 Less: Due from customers on contracts (Note 22) (39,137) (221,286) – – Less: Prepayments (193,875) (116,559) (6,765) (1,695) Total financial assets carried at amortised cost 25,849,989 25,867,313 6,536,808 7,274,717 (a) Trade receivables The Group’s normal trade credit terms with its customers range from 7 to 90 days (2018: 7 to 90 days). Other credit terms are assessed and approved on a case-by-case basis and each customer is assigned a maximum credit limit. NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 FINANCIAL STATEMENTS MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019 322 323