233 INTEGRATED ANNUAL REPORT 2025 ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 25. TRADE AND OTHER RECEIVABLES (CONTINUED) Trade receivables are non-interest bearing and are generally on 7 to 60 (2024: 30 to 60) day terms. They are recognised at their original invoice amounts which represent their fair values on initial recognition. (a) Trade receivables Movements in trade receivables allowance for impairment account are as follows: Group Company 2025 RM million 2024 RM million 2025 RM million 2024 RM million At 1 February 2 1 21 10 (Reversal of impairment loss)/Impairment loss (1) 1 (3) 11 At 31 January 1 2 18 21 The Company’s impairment amounts recognised for the financial year ended 31 January 2025 and 31 January 2024 related to amount due from subsidiaries. Trade receivables that are individually determined to be impaired at the reporting date related to debtors that are in significant financial difficulties and/or have defaulted on payments. These receivables are not secured by any collateral or credit enhancements. (b) Other receivables i. Included in non-current deposits is an amount of RM1 million (2024: RM27 million) relating to fixed deposits with a maturity period of more than 12 months. ii. Included in sundry receivables is an amount of RM55 million (2024: RM75 million) relating to a contractual settlement arrangement with a customer for receivables relating to an FPSO project, which is unsecured and repayable over a period of 7 years. The amount receivable was adjusted to its fair value upon initial recognition, and is subsequently carried at amortised cost. As at 31 January 2025, the amounts classified as current and noncurrent were RM18 million (2024: RM16 million) and RM37 million (2024: RM59 million) respectively. Included in the current sundry receivables is an amount of RM3 million (2024: RM19 million) held in escrow accounts by third parties for payments to suppliers. iii. Amounts due from subsidiaries which are non-interest bearing are denominated in USD and RM. These amounts are unsecured and revolving on daily basis, except for amounts of RM11 million as at 31 January 2025 (2024: RM254 million) which were not expected to be recovered within the next 12 months. iv. Amounts due from joint ventures are unsecured and non-interest bearing.
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