NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 23. TRADE AND OTHER RECEIVABLES (CONT’D.) (a) Trade receivables (cont’d.) Receivables that are neither past due nor impaired Trade receivables that are neither past due nor impaired are creditworthy debtors with good payment records with the Group and the Company. None of the Group’s and of the Company’s trade receivables that are neither past due nor impaired have been renegotiated during the current and the previous financial year. Receivables that are past due but not impaired The receivables that are past due but not impaired are mainly related to the progress billings to be settled by the end-buyers’ financiers. However, the directors are of the opinion that these debts should be realised in full without material losses in the ordinary course of business as the legal title to the properties sold remain with the Group and the Company until the purchase consideration is fully paid. Receivables that are impaired The Group’s trade receivables that are individually impaired at the reporting date and the movement of the accumulated impairment losses is as follows: Group Individually impaired 2024 2023 RM’000 RM’000 Trade receivables - nominal amount 6,715 7,217 Less: Accumulated impairment losses (6,715) (7,217) – – Movements in the accumulated impairment losses: Group 2024 2023 RM’000 RM’000 At 1 January 7,217 7,075 Charge for the financial year 588 1,123 Reversal for the financial year (786) (700) Disposal of a subsidiary – (82) Write off (304) (199) At 31 December 6,715 7,217 Trade receivables that are individually determined to be impaired at the end of the financial year relate to debtors that are in significant financial difficulties and have defaulted on payments. These receivables are not secured by any collateral or credit enhancements. ANNUAL REPORT 2024 304
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