FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 270 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 26 RECEIVABLES (CONTINUED) Past due but not impaired (continued) As at 31 December 2017 and 1 January 2017, there are no receivables of the Company that were past due but not impaired. Impaired and provided for In previous financial year, RM134,007,000 (1.1.2017: RM44,563,000) of receivables of the Group were impaired and provided for. The individually impaired receivables mainly related to debtors that were having financial difficulties and have defaults on payments. In particular, the individually impaired receivables mainly related to three downstream and refining customers experiencing unexpected economic difficulties and two trading customers who were 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 31.12.2017 RM’000 1.1.2017 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 Other receivables and deposits At 1 January - - Charged to profit or loss 17,985 - At 31 December 17,985 - Total 134,007 44,563 As at 31 December 2017 and 1 January 2017, there were no receivables of the Company that were impaired and provided for.