NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
20 TRADE AND OTHER RECEIVABLES (CONT’D)
Amounts due from associates
The current amount due from an associate under trade receivables is unsecured, non-interest bearing and subject to the
Group’s normal credit terms which range from cash term to 90 days.
The current amounts due from associates under other receivables are non-trade related, unsecured and repayable on
demand.
No interest is charged except for amounts receivable of $66,348,000 from Far East Hospitality Holdings Pte. Ltd. which
bear interest at 2.0% per annum.
Amounts due from joint ventures
The non-current other receivables is due from Africa Smelting Corporation Sprl. It is an unsecured term loan, currently
interest free. Interest will be charged at 10% per annum from date of commencement of production. The unsecured term
loan is repayable in 12-quarterly instalments commencing 12 months after date of commencement of production. The
estimated date of commencement of production is 1 January 2018.
Trade and other receivables denominated in foreign currencies other than the functional currencies of the respective
Group entities are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
United States Dollar
37,642
25,924
–
–
Japanese Yen
5,226
–
–
–
The aged analysis of trade and other receivables is as follows:
Group
2014
2013
$’000
$’000
Gross
Impairment
losses
Net
Gross
Impairment
losses
Net
• Not past due
113,820
(512)
113,308
104,669
(195)
104,474
• Past due:
Less than 30 days
105
–
105
429
–
429
30 to 60 days
1,517
–
1,517
1,294
–
1,294
61 to 90 days
439
–
439
412
(3)
409
91 to 120 days
12
–
12
100
–
100
More than 120 days
8,918
(8,209)
709
20,083
(15,566)
4,517
10,991
(8,209)
2,782
22,318
(15,569)
6,749
Total
124,811
(8,721)
116,090
126,987
(15,764)
111,223
117
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
