| ANNUAL REPORT 2015
154
NOTES TO THE FINANCIAL STATEMENTS
30 June 2015 (cont’d)
15. TRADE AND OTHER RECEIVABLES (cont’d)
Group
Company
2015
2014
2015
2014
RM’000
RM’000
RM’000
RM’000
Current assets
Trade receivables
Third parties
93,828
76,496
-
-
Associate
67
43
-
-
93,895
76,539
-
-
Less: Impairment losses
(3,233)
(3,233)
-
-
90,662
73,306
-
-
Other receivables and deposits
Amounts owing by subsidiaries
-
-
100,714
86,244
Amounts owing by associates
2,063
1,135
204
201
Loan to an associate
4,122
3,215
-
-
Other receivables
8,973
8,984
-
-
Deposits
17,747
17,587
9
9
32,905
30,921
100,927
86,454
Less: Impairment losses
- subsidiaries
-
-
(25,129)
(26,037)
- associates
(6,185)
(4,214)
(204)
(201)
- deposits
(100)
(100)
-
-
26,620
26,607
75,594
60,216
Loans and receivables
117,282
99,913
75,594
60,216
Prepayments
16,585
12,352
-
-
133,867
112,265
75,594
60,216
(a) The loan to an associate, Braun GmbH & Co. KG, is unsecured and has a fixed term of 20 years. The loan is repayable over
20 annual instalments commencing from 2012 with a lump sum repayment upon expiry of the loan. Interest rate is fixed
at 3.0% (2014: 3.0%) per annum. Its fair value at initial recognition was computed based on cash flows discounted at a
market borrowing rate at 7.5% per annum as disclosed in Note 11 to the financial statements.
As at 30 June 2015, loan to the associate of RM9,187,000 (2014: RM7,862,000) and amount owing by the associate of
RM1,185,000 (2014: RM798,000) were fully impaired due to the associate’s deficit in total equity position.
(b) Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group range from 30 to 120
days (2014: 30 to 120 days). They are recognised at their original invoice amounts which represent their fair values on
initial recognition.
(c) Non-trade amounts owing by subsidiaries represent advances and payments made on behalf, which are unsecured,
interest-free and payable upon on demand in cash and cash equivalents.
