174 Annual Report 2022 Notes to the Financial Statements For the Financial Year Ended 30 September 2022 RECEIVABLES, DEPOSITS AND PREPAYMENTS (CONT’D) 20. (e) Trade receivables (Cont’d) The ageing analysis of the Group’s trade receivables is as follows: (Cont’d) (ii) 2022 RM 2021 RM The Group 1,095,204 865,033 877,476 1,095,204 307,487 15,250 - (245,421) (89,759) - At beginning of year Additions (Note 6) No longer required (Note 6) Written off At end of year Receivables that are past due but not impaired Trade receivables of the Group amounting to RM19,174,051 (2021: RM12,780,776) which are past due but not impaired because there have been no significant changes in credit quality of the debtors and the amounts are still considered recoverable. The Group does not hold any collateral or other credit enhancements over these balances. Receivables that are impaired The movement of allowance accounts used to record the impairment is as follows: Included in trade receivables of the Group are: (iii) (a) (b) retention sums amounting to RM45,107,079 (2021: RM52,384,198) held by stakeholders; an amount of RM253,200 (2021: RM1,557,000) due from a director of the Company in respect of purchase of leasehold land from the Group; Trade receivables that are individually determined to be impaired at the reporting date relate to debtors that are in significant financial difficulties and have defaulted on payment. These receivables are not secured by any collateral or credit enhancements. The Group always measures the loss allowance for trade receivables at an amount equal to lifetime expected credit losses (“ECLs”). The ECLs on trade receivables are estimated by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast direction of conditions at the reporting date. There has been no change in the estimation techniques or significant assumptions made during the current reporting period.
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