151 / 188
147
NOTES TO THE FINANCIAL STATEMENTS
F i m a C o r p o r at i o n B e r h a d ( 2 1 1 8 5 - P ) •
A n n u a l R e p o r t 2 0 1 8
18. TRADE AND OTHER RECEIVABLES (CONT’D.)
(a)
Trade receivables
Trade receivables are non-interest bearing and are generally on 30 to 90 days (2017: 30 to 90 days) term. Other credit
terms are assessed and approved on a case-by-case basis. They are recognised at their original invoice amounts which
represent their fair values on initial recognition.
Included in trade receivables amount is accrued revenue of RM Nil (2017: RM8,645,000).
The Group has no significant concentration of credit risk that may arise from exposures to a single debtor or to groups
of debtors except for balances of RM55,319,000 (2017: RM47,470,000) due from the Government of Malaysia.
Ageing analysis of trade receivables
The ageing analysis of the Group’s and of the Company’s trade receivables is as follows:
Group
Company
2018
2017
2018
2017
RM’000
RM’000
RM’000
RM’000
Neither past due nor impaired
28,275
28,387
80
97
Past due but not impaired:
1 to 60 days
28,443
8,577
36
68
61 to 120 days
9,905
6,982
64
97
More than 121 days
38,454
23,255
265
226
76,802
38,814
365
391
Impaired
1,313
1,554
-
-
106,390
68,755
445
488
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.
None of the Group’s trade receivables that are neither past due nor impaired have been renegotiated during the financial
year.
Receivables that are past due but not impaired
The Group and the Company has trade receivables amounting to RM76,802,000 (2017: RM38,814,000) and RM365,000
(2017: RM391,000), respectively that are past due at the reporting date but not impaired.
No allowance for impairment is made as in the opinion of the directors, the outstanding debts are expected to be
collected in full within the next twelve months.