FGV Audited Financial Statements 2019

163 01 S E C T I O N NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 AUDITED FINANCIAL STATEMENTS 2019 27 RECEIVABLES (CONTINUED) (a) Reconciliation of loss allowance (continued) (i) Trade receivables using simplified approach (continued) The following table contains an analysis of the credit exposure of trade receivables for which an ECL allowance is recognised, based on collective and individual impairment assessment: Current RM’000 Up to 30 days past due RM’000 31 days to 90 days past due RM’000 More than 91 days past due RM’000 Total RM’000 31 December 2019 Gross carrying amount 496,563 391,243 40,683 224,420 1,152,909 Individual impairment - credit impaired - - - (175,618) (175,618) 496,563 391,243 40,683 48,802 977,291 Expected credit loss rate 0.04% 0.2% 2.1% 28.0% Collective impairment (185) (637) (845) (13,688) (15,355) Carrying amount (net of loss allowance) 496,378 390,606 39,838 35,114 961,936 31 December 2018 Gross carrying amount 803,131 35,981 3,056 205,425 1,047,593 Individual impairment - credit impaired - - - (171,290) (171,290) 803,131 35,981 3,056 34,135 876,303 Expected credit loss rate 0.1% 2.2% 12.6% 36.0% Collective impairment (1,122) (799) (384) (12,317) (14,622) Carrying amount (net of loss allowance) 802,009 35,182 2,672 21,818 861,681 The increase in trade receivables’ ECL during the financial year relates to receivables from current year sales that are credit-impaired. (ii) Other receivables and deposits using general 3 stage approach The loss allowance for other receivables and deposits as at 31 December 2018 reconciles to the opening loss allowance for that provision as follows: Performing RM’000 Under- performing RM’000 Non- performing RM’000 Total RM’000 Opening loss allowance as at 1 January 2018 - - 19,305 19,305 Increase in loss allowance (net) - - 2,743 2,743 Loss allowance as at 31 December 2018 - - 22,048 22,048 Individual financial assets transferred to under-performing - 1,321 (1,321) - (Decrease)/increase in loss allowance (net) - (3) 200 197 Foreign exchange movements - - (28) (28) Closing loss allowance as at 31 December 2019 - 1,318 20,899 22,217