19. Receivables (CONT’D.)
(a) Trade receivables
Trade receivables are non-interest bearing and are on 30-day (2014: 30-day) credit terms. Certain palm
kernel buyers are required to make advance payment before collection of the produce. Trade receivables
are recognised at original invoice amounts which represent their fair values on initial recognition.
Ageing analysis of trade receivables
Group
Company
2015
2014
2015
2014
RM’000
RM’000
RM’000
RM’000
Neither past due nor impaired
36,124
36,992
-
40
Past due but not impaired:
- 1 to 30 days
488
1,728
-
-
- 31 to 60 days
113
66
-
-
- 61 to 90 days
157
119
-
-
- > 90 days
31
-
-
-
789
1,913
-
-
36,913
38,905
-
40
Receivables that are neither past due nor impaired
Trade receivables that are neither past due nor impaired are creditworthy debtors with good payment
records with the Group and the Company. These debtors are mostly long term customers with no history
of default in payments.
None of the trade receivables that are neither past due nor impaired have been renegotiated during the
year.
Receivables that are past due but not impaired
The Group’s trade receivables of RM789,000 (2014: RM1,913,000) that are past due at the reporting date
but not impaired, are unsecured. These balances relate mainly to customers who have not defaulted on
payments but are slow paymasters hence, periodically monitored.
n otes to th e f i nan c i a l statements
Bo ustead plantati o ns Berhad
10 8
