15. TRADE AND OTHER RECEIVABLES (continued) (f) Amounts owing by subsidiaries The amounts owing by subsidiaries represent advances and payments made on behalf, which are unsecured, interest-free and payable within next twelve months in cash and cash equivalents. (g) Amounts owing by associates Trade amount owing by associates are non-interest bearing and the normal trade credit terms granted by the Group is thirty (30) days (2020: thirty (30) days) from date of invoice. They are recognised at their original invoice amounts, which represent their fair values on initial recognition. In previous financial year, included in amounts owing by associates of the Group was a loan to an associate amounted to RM4,984,000, which was unsecured, bear interest at 3% per annum and was payable in cash and cash equivalents. The remaining amounts owing by associates represent advances and payments made on behalf, which are unsecured, interest-free and payable within next twelve months in cash and cash equivalents. (h) Included in non-current other receivables is an amount of RM56,588,000 (2020: RM54,052,000) which is secured by property units, bears interest at 8% per annum and is payable in cash and cash equivalents upon issuance of certificate for the completion for the development project. (i) Amount owing by a joint venture Trade amount owing by a joint venture is non-interest bearing and the normal trade credit terms granted by the Group range from fifteen (15) days to ninety (90) days (2020: fifteen (15) days to ninety (90) days) from date of invoice. They are recognised at their original invoice amounts, which represent their fair values on initial recognition. Non-trade amount owing by a joint venture represents payments made on behalf and commission charges, which are unsecured, interest-free and payable within next twelve months in cash and cash equivalents. (j) Currency exposure profile The currency exposure profile of trade and other receivables (exclude prepayments) are as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 77,739 72,644 121,682 128,533 United States Dollar 6,122 16,434 - - Vietnamese Dong 4,427 5,598 - - Hong Kong Dollar 6,779 6,211 - - Singapore Dollar - 1,424 76 76 Chinese Renminbi 11,162 7,906 - - Pound Sterling 109 - - - 106,338 110,217 121,758 128,609 (k) Information on financial risks of trade and other receivables is disclosed in Note 38 to the financial statements. NOTES TO THE FINANCIAL STATEMENTS 145 P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 31 December 2021 (cont’d)
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