NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 13. INVENTORIES Group 2023 2022 RM’000 RM’000 At cost Used motor vehicles 1,559 1,599 Finished goods 24,220 24,210 25,779 25,809 Recognised in profit or loss: Inventories recognised as cost of sales 16,562 23,596 Inventories written down 99 15 Reversal of inventories written down (49) (20) The inventories written down is made when the related inventories were obsolete. The reversal of inventories written down was made when the related inventories were sold above their carrying amounts. Material accounting policy information Inventories are measured at the lower of cost and net realisable value. The cost of inventories is determined based on a first-in-first out basis. 14. TRADE RECEIVABLES Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Trade receivables 341,044 334,890 9,072 7,530 Less: Allowance for ECLs (16) (31) - - 341,028 334,859 9,072 7,530 The Group’s and the Company’s normal trade credit terms range from cash terms to 180 (2022: cash terms to 180) days. Other credit terms are assessed and approved on a case-by-case basis. Movements in the allowance for ECLs are as follows: Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 At beginning of the financial year 31 45 - - Charge for the financial year 16 - - - Reversal for the financial year (31) (14) - - At end of the financial year 16 31 - - 218 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) NVENTORIES
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