91
ANNUAL REPORT 2015/2016
Notes to Financial Statements
15
TRADE AND OTHER RECEIVABLES (CONT’D)
The average credit terms generally granted for third party trade receivables is about 30 days (2015:
30 days). Some customers take a longer period to settle the amounts. Trade receivables aging
analysis as follows:
2016
2015
THE GROUP
Gross
Impairment
allowance
Gross
Impairment
allowance
$’000
$’000
$’000
$’000
Less than 30 days
3,939
–
5,598
–
31 – 60 days
845
–
733
–
61 – 90 days
159
(10)
–
–
More than 90 days
6
(6)
101
(86)
4,949
(16)
6,432
(86)
Amounts greater than 30 days are considered to be past due. They are not secured.
Movements in impairment allowance
THE GROUP
2016
2015
$’000
$’000
Beginning of financial year
86
101
Currency translation
(1)
(11)
Utilisation
(69)
(4)
&OE PG GJOBODJBM ZFBS
16
86
Trade receivables that are neither past due nor impaired are substantially from companies with a good
collection track record with the Group.
