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164 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

18. TRADE RECEIVABLES (CONT’D)

The progress billings are due within 14 to 90 days as stipulated in construction contracts and sale and purchase agreements. The

retention sums are due upon the expiry of the defect liability period stated in the respective construction contracts or sale and purchase

agreements. The defect liability periods range from 6 to 24 months.

Other gross receivables are collectible within 14 to 90 days.

Ageing analysis of the Group’s and the Company’s trade receivables are as follows:

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Neither past due nor impaired

308,818

404,954

-

5,959

1 to 30 days past due not impaired

36,280

66,711

-

-

31 to 60 days past due not impaired

22,420

23,666

-

-

61 to 90 days past due not impaired

21,146

59,866

-

-

91 to 120 days past due not impaired

23,171

52,454

-

-

More than 121 days past due not impaired

21,569

93,119

-

-

433,404

700,770

-

5,959

Individually impaired

694

3,052

-

1,393

434,098

703,822

-

7,352

The movements in the allowance for impairment losses of trade receivables during the financial year are as follows:

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

At beginning of the year

3,052

3,124

1,393

1,393

Provision during the year

24

4

17

-

Reversal of impairment loss

(2,382)

(76)

(1,410)

-

At 31 October

694

3,052

-

1,393