218 F INANC IAL Statements 05 Sect ion Ranhi ll Ut i l i t i es Berhad NOTES TO THE F INANC I AL STATEMENTS For the year ended 31 December 2022 24. TRADE AND OTHER RECEIVABLES (Contd.) (a) Trade receivables Trade receivables are non-interest bearing and are generally on 15 to 90 days (2021: 15 to 90 days) terms. They are recognised at their original invoice amounts which represent their fair values on initial recognition. Ageing analysis of trade receivables is as follows: Group 2022 RM’000 2021 RM’000 Neither past due nor impaired 152,110 136,812 1 to 30 days past due not impaired 35,829 32,058 31 to 60 days past due not impaired 7,321 8,097 61 to 90 days past due not impaired 3,753 6,649 91 to 120 days past due not impaired 6,477 4,394 More than 121 days past due not impaired 24,920 36,916 78,300 88,114 Impaired 40,382 48,410 270,792 273,336 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 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 has trade receivables amounting to RM78,300,000 as at 31 December 2022 (2021: RM88,114,000) that are past due at the reporting date but not impaired because there has been no significant changes in credit quality and the amounts are still considered recoverable. These are good customers but with slower repayment records. Allowance for expected credit losses The Group always measures the loss allowance for trade receivables at an amount equal to lifetime expected credit losses (“ECLs”). The ECLs is initially based on the Group’s historical observed default rates. The Group will calibrate the matrix to adjust the historical credit loss experience with forward-looking information.
RkJQdWJsaXNoZXIy ODQxNzg=