FGV Annual Report 2017

ANNUAL INTEGRATED REPORT 2017 FINANCIAL STATEMENTS 255 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 25 RECEIVABLES (CONTINUED) Past due but not impaired (continued) Group No history of default RM’000 History of default RM’000 New customers RM’000 Total RM’000 2016 Less than 30 days past due 263,456 1,337 14,758 279,551 Between 30 and 60 days past due 33,501 15,719 12,278 61,498 Between 61 and 90 days past due 16,744 5,389 4,568 26,701 Between 91 days and 1 year past due 12,927 12,709 9,501 35,137 More than 1 year past due 8,906 8 6,177 15,091 At 31 December 2016 335,534 35,162 47,282 417,978 As at 31 December 2017 and 31 December 2016, there are no receivables of the Company that were past due but not impaired. Impaired and provided for As at 31 December 2017, RM134,007,000 (2016: RM44,563,000) of receivables of the Group were impaired and provided for. The individually impaired receivables mainly relate to debtors that are having financial difficulties and have defaults on payments. In particular, the individually impaired receivables mainly relate to three downstream and refining customers experiencing unexpected economic difficulties and two trading customers who are unable to settle the agreed net trade settlement with the Group. Movement of the Group’s provision for impairment of receivables are as follows: Group 2017 RM’000 2016 RM’000 Trade receivables At 1 January 44,563 7,523 Charged to profit or loss 71,459 37,040 At 31 December 116,022 44,563 Deposits At 1 January - - Charged to profit or loss 17,985 - At 31 December 17,985 - Total 134,007 44,563