NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
20 TRADE AND OTHER RECEIVABLES
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Current:
Trade receivables
47,349
28,385
54
4
Amount due from an associate
616
616
–
–
Impairment of doubtful receivables
(4,875)
(3,989)
–
–
43,090
25,012
54
4
Other receivables
Balance receivable from sale of properties
–
8,415
–
–
Deposits
648
1,010
43
45
Non-trade receivables
6,194
17,348
65
35
Amounts due from subsidiaries
–
–
558,191
584,817
Amounts due from associates
67,207
67,950
10
1,225
Amounts due from joint ventures
22
105
–
–
74,071
94,828
558,309
586,122
Impairment of doubtful receivables
(3,334)
(11,580)
(284)
(406)
70,737
83,248
558,025
585,716
Trade and other receivables (current)
113,827
108,260
558,079
585,720
Non-Current:
Non-trade receivables
–
67
–
–
Amount due from joint venture
2,775
3,091
–
–
Impairment of doubtful receivables
(512)
(195)
–
–
2,263
2,963
–
–
Total trade and other receivables
(current and non-current)
116,090
111,223
558,079
585,720
Add: Cash and cash equivalents (note 28)
480,170
274,333
387,410
144,133
Total loans and receivables
596,260
385,556
945,489
729,853
Trade receivables
Trade receivables are non-interest bearing and are generally on cash payment to 90-day terms. They are recognised at
their original invoice amounts which represent their fair values on initial recognition.
At the end of the reporting period, trade receivables arising from export sales amounting to $3,216,000 (2013: $2,889,000)
are arranged to be settled via letters of credits issued by reputable banks in countries where customers are based.
Amounts due from subsidiaries
The amounts due from subsidiaries are non-trade related, unsecured, non-interest bearing and repayable on demand.
116
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
