NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
111
ANNUAL REPORT 2015
21.
TRADE AND OTHER RECEIVABLES
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Current:
Trade receivables
52,232
47,349
22
54
Amount due from associates
1,409
616
8
–
Impairment of doubtful receivables
(126)
(4,875)
–
–
53,515
43,090
30
54
Other receivables
Deposits
557
648
41
43
Non-trade receivables
6,333
6,194
159
65
Amounts due from subsidiaries
–
–
866,317
558,191
Amounts due from associates
66,785
67,207
–
10
Amounts due from a joint venture
19
22
–
–
73,694
74,071
866,517
558,309
Impairment of doubtful receivables
(912)
(3,334)
(284)
(284)
72,782
70,737
866,233
558,025
Trade and other receivables (current)
126,297
113,827
866,263
558,079
Non-Current:
Amount due from a joint venture
2,414
2,775
–
–
Impairment of doubtful receivables
(559)
(512)
–
–
1,855
2,263
–
–
Total trade and other receivables (current and non-current)
128,152
116,090
866,263
558,079
Add: Cash and cash equivalents (note 28)
239,325
480,170
105,579
387,410
Total loans and receivables
367,477
596,260
971,842
945,489
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 $4,366,000 (2014: $3,216,000)
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.
Amounts due from associates
The current amount due from associates 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.
