129 FINANCIAL STATEMENTS & OTHERS ENRA GROUP BERHAD ANNUAL REPORT 2023 Notes To The Financial Statements 31 March 2023 (Cont’d) 11. TRADE AND OTHER RECEIVABLES Group Company 2023 2022 2023 2022 Note RM’000 RM’000 RM’000 RM’000 Trade receivables - third parties 4,449 10,617 - - Other receivables and deposits Amounts due from subsidiaries - - 83,933 78,087 Other receivables 313 2,165 78 774 Deposits 1,400 1,254 78 63 Less: Impairment losses - subsidiaries (i) - - (3,419) - 1,713 3,419 80,670 78,924 Total receivables, net of prepayments 6,162 14,036 80,670 78,924 Prepayments 744 4,593 290 272 Total trade and other receivables 6,906 18,629 80,960 79,196 (a) Trade and other receivables (excluding prepayments) are classified as financial assets measured at amortised cost. (b) Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group ranged from 30 to 60 days (2022: 30 to 60 days). They are recognised at their original invoice amounts which represent their fair values on initial recognition. (c) The amounts due from subsidiaries represent advances and payments on behalf, which bear interest at 2% - 11% (2022: 2% - 10%) per annum and payable within next twelve months in cash and cash equivalents. (d) The currency exposure profile of receivables (excluding prepayments) are as follows: Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 1,837 2,364 80,670 67,129 US Dollar 4,272 11,387 - - British Pound 53 285 - 11,165 6,162 14,036 80,670 78,294 (e) 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 writeoffs 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.
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