ENRA Group Berhad | Annual Report 2022 128 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 11. TRADE AND OTHER RECEIVABLES (CONT’D) (e) The currency exposure profile of receivables (excluding prepayments) are as follows: Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 2,364 5,204 67,129 42,827 US Dollar 11,387 7,101 – 10,302 British Pound 285 12 11,165 9,518 Australian Dollar – 610 – – 14,036 12,927 78,294 62,647 (f) Impairment for trade receivables that do not contain a significant financing component are recognised based on the simplified approach using the lifetime expected credit losses. The Group uses an allowance matrix to measure the expected credit loss of trade receivables from individual customers. Expected loss rates are calculated using the average historical bad debts write-offs rate and general rate based on the length of time invoices are overdue. During this process, the probability of non-payment by the trade receivables is adjusted by forward looking information. The Group believes that the financial impacts to the forward-looking information are inconsequential for the purpose of impairment calculation of trade receivables due to their relatively short-term nature. For trade receivables, which are reported net, such impairments are recorded in a separate impairment account with the loss being recognised within administrative expenses in the consolidated statement of profit or loss and other comprehensive income. On confirmation that the trade receivable would not be collectable, the gross carrying value of the asset would be written off against the associated impairment. It requires management to exercise significant judgement in determining the probability of default by trade receivables and appropriate forward-looking information, including the effects of COVID-19 pandemic. Expected credit loss allowance for trade receivables are as follows: Gross carrying Total Net Group amount allowance balance RM’000 RM’000 RM’000 2022 Current (not past due) 5,222 * 5,222 Past due - 1 to 30 days 3,878 * 3,878 - 31 to 60 days – – – - 61 to 90 days 159 * 159 - More than 90 days 1,358 * 1,358 10,617 * 10,617 Credit impaired Individually impaired – – – 10,617 * 10,617
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