184 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) Allowance for Impairment Losses (Cont’d) Lifetime Lifetime Gross Individual Collective Carrying Amount Allowance Allowance Amount The Group RM’000 RM’000 RM’000 RM’000 2023 Trade receivables with credit terms: - current (not past due) 26,990 - - 26,990 - 1 to 30 days past due 29,450 - - 29,450 - 31 to 60 days past due 11,094 - - 11,094 - 61 to 90 days past due 7,210 - - 7,210 - more than 90 days past due 9,145 (8,616) - 529 83,889 (8,616) - 75,273 Trade receivables without credit terms# 18,288 - - 18,288 102,177 (8,616) - 93,561 Note:- # - The Group’s normal trade credit terms range from 30 to 120 days. Other credit terms are assessed and approved on a case-by-case basis which include back-to-back arrangement i.e. the Group will receive payment when its customers received theirs. The allowance for impairment losses (determined on an individual basis) relates to credit impaired trade receivables who are in significant financial difficulties and have defaulted on payments. No impairment losses are provided for the remaining trade receivables because there have been no significant changes in their credit quality and the amounts are considered recoverable but with slower repayment records. There has not been any significant change in the gross amounts of trade receivables that impacted the allowance for impairment losses.
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