182 KEYFIELD INTERNATIONAL BERHAD 202001038989 (1395310-M) NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (cont’d) 35. FINANCIAL INSTRUMENTS (CONT’D) 35.1 FINANCIAL RISK MANAGEMENT POLICIES (CONT’D) (b) Credit Risk (Cont’d) (iii) Assessment of Impairment Losses (Cont’d) Trade Receivables (Cont’d) Inputs, Assumptions and Techniques used for Estimating Impairment Losses To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. Therefore, the Group concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates. The Group measures the expected credit losses of certain major customers, trade receivables that are credit impaired and trade receivables with a high risk of default on an individual basis. The expected loss rates are based on the payment profiles of sales over a certain period before the reporting date and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forwardlooking information on macroeconomic factors affecting the ability of the customers to settle their debts. There are no significant changes in the estimation techniques and assumptions as compared to the previous financial year. Allowance for Impairment Losses The reconciliations of allowance for impairment losses are as follows:- The Group 2024 2023 RM’000 RM’000 Trade receivables 8,616 8,616
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