SECTION 4: FINANCIAL PERFORMANCE 214Registration No: 199301009307 (264044-M) 76 31. FINANCIAL INSTRUMENTS (CONT’D) 31.2 Financial risk management objectives and policies (cont’d) Financial risk (cont’d) The main areas of financial risks faced by the Group and the Company and the policy in respect of the major areas of treasury activity are set out as follows (cont’d):- (a) Credit risk (cont’d) Following are the areas where the Group and the Company are exposed to credit risk (cont’d):- Trade receivables (cont’d) Set out below is the information about the credit risk exposure on the Group’s trade receivables using a provision matrix which are grouped together as they are expected to have similar risk nature (cont’d):- Gross-carrying amount Loss- allowance Net balances Group (cont’d) RM’000 RM’000 RM’000 2022 Current (Not past due) 6,197 - 6,197 1-30 days past due 2,005 - 2,005 31-60 days past due 95 - 95 61-90 days past due 69 - 69 More than 90 days past due 140 - 140 8,506 - 8,506 Other receivables The maximum exposure to credit risk is represented by their carrying amounts in the statements of financial position. Cash and cash equivalents The credit risk for cash and cash equivalents are considered negligible, since the counter parties are reputable banks with high quality external credit ratings. Intercompany loans and advances The maximum exposure to credit risk is represented by their carrying amounts in the statements of financial position.
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