137
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
(Continued)
15. TRADE AND OTHER RECEIVABLES (continued)
Group
Company
2016
RM’000
2015
RM’000
2016
RM’000
2015
RM’000
Current assets
Trade receivables
Third parties
80,695
93,828
-
-
Associate
212
67
-
-
80,907
93,895
-
-
Less: Impairment losses
- third parties
(4,582)
(3,233)
-
-
76,325
90,662
-
-
Other receivables and deposits
Amounts owing by subsidiaries
-
-
110,135
100,714
Amounts owing by associates
2,910
2,063
206
204
Loan to an associate
299
4,122
-
-
Other receivables
7,854
8,973
42
-
Deposits
17,388
17,747
9
9
28,451
32,905
110,392
100,927
Less: Impairment losses
- subsidiaries
-
-
(26,354)
(25,129)
- associates
(3,209)
(6,185)
(206)
(204)
- deposits
(100)
(100)
-
-
(3,309)
(6,285)
(26,560)
(25,333)
25,142
26,620
83,832
75,594
Loans and receivables
101,467
117,282
83,832
75,594
Prepayments
10,252
16,585
-
-
111,719
133,867
83,832
75,594
(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% (2015: 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 2016, loan to the associate of RM5,699,000 (2015: RM9,187,000) and amount owing by the associate of RM2,910,000
(2015: RM2,063,000) were fully impaired due to the associate’s deficit in total equity position.
(b)
Included in the amounts owing from third parties is an amount owing from an exclusive authorised dealer of “Braun Buffel” brand
of RM10,734,000. The amount receivable from the exclusive authorised dealer is with interest rate of 18% per annum and is not due
within the next twelve (12) months.
(c)
Trade receivables are non-interest bearing and the normal trade credit terms granted by the Group range from 30 to 120 days (2015:
30 to 120 days). They are recognised at their original invoice amounts which represent their fair values on initial recognition.
(d) 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.
