Integrated Annual Report 2021

22. TRADE AND OTHER RECEIVABLES (CONT'D.) (a) Trade receivables The Group’s normal trade credit terms with its customers range from 7 to 90 days (2020: 7 to 90 days). Other credit terms are assessed and approved on a case-by-case basis and each customer is assigned a maximum credit limit. (b) Other receivables and amounts due from related parties The non-trade balances due from holding company, subsidiaries, associates and joint ventures arose in the normal course of business. Certain loans and advances to subsidiaries bear interest ranging from 1.51% to 4.25% (2020: 1.54% to 4.70%) per annum. The ageing of trade receivables (excluding amount due from customers on contracts and finance lease receivables) as at the end of the reporting period is analysed below: Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Current 620,518 921,512 54,567 405,908 Past due 1-30 days 120,138 178,893 2,004 2,405 Past due 31-60 days 95,041 104,424 1,465 11,402 Past due 61-90 days 97,459 129,479 1,219 1,824 Past due more than 90 days 2,063,692 1,139,824 50,407 86,425 2,996,848 2,474,132 109,662 507,964 Less: Impairment (404,269) (626,262) (84,130) (325,237) 2,592,579 1,847,870 25,532 182,727 The movement in the allowance for impairment loss of trade and other receivables and other non-current assets during the year are as follows: Group Corporation Trade Other Trade Other and other non-current and other non-current receivables assets receivables assets (Note 20(a)) (Note 20(a)) RM’000 RM’000 RM’000 RM’000 At 1 January 2021 627,328 2,417 329,408 2,417 Reclassification to long term receivables (268,992) 268,992 (268,992) 268,992 Impairment loss (Note 5) 65,336 4,369 52,679 – Write back of impairment loss (Note 4) (1,195) – (2,507) – Write off (20,730) (2,417) (20,730) (2,417) Unwinding of discount on trade receivables (Note 10(a)) (13,666) – (13,666) – Currency translation differences 16,953 2,272 9,742 2,244 At 31 December 2021 405,034 275,633 85,934 271,236 22. TRADE AND OTHER RECEIVABLES (CONT'D.) The movement in the allowance for impairment loss of trade and other receivables and other non-current assets during the year are as follows: (cont'd.) Group Corporation Trade Other Trade Other and other non-current and other non-current receivables assets receivables assets (Note 20(a)) (Note 20(a)) RM’000 RM’000 RM’000 RM’000 At 1 January 2020 664,200 2,460 381,509 2,460 Impairment loss (Note 5) 34,563 – 13,915 – Write back of impairment loss (Note 4) – – (136) – Write off (42,017) – (42,017) – Unwinding of discount on trade receivables (Note 10(a)) (18,821) – (18,821) – Currency translation differences (10,597) (43) (5,042) (43) At 31 December 2020 627,328 2,417 329,408 2,417 23. DUE FROM/(TO) CUSTOMERS ON CONTRACTS Group 2021 2020 RM’000 RM’000 Construction contract costs incurred and recognised profits to date 7,142,683 4,967,569 Less: Progress billings (4,016,759) (4,491,705) 3,125,924 475,864 Due from customers on contracts: Non-current (Note 20(a)) 2,748,898 – Current (Note 22) 496,218 491,259 3,245,116 491,259 Due to customers on contracts (Note 26) (119,192) (15,395) 3,125,924 475,864 The movement of amount due from/(to) customers on contracts is as follows: Group 2021 2020 RM’000 RM’000 At the beginning of the year 475,864 33,144 Revenue recognised during the year (Note 3) 3,748,218 1,926,878 Progress billings during the year (1,098,158) (1,484,158) At the end of the year 3,125,924 475,864 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 MISC Berhad 392 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 393 FINANCIAL STATEMENTS FINANCIAL STATEMENTS

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