30
MIGHT Directors’ Report And Audited Financial Statements 2020
9. TRADE AND OTHER RECEIVABLES (continued)
GROUP
COMPANY
2019 RM
2019 RM
2020 RM
2020 RM
Total trade receivables
181,528
441,974
181,528
441,974
Other receivables Other receivables Deposits
3,575,781 415,175 - 228,674
2,079,128 415,579 - 228,674
1,173,293 269,289 - 15,440
1,343,609 262,689
Amounts owing by subsidiaries Amount owing by an associate
19,256 15,440
Total other receivables
4,219,630
2,723,381
1,458,022
1,640,994
Less: Impairment losses - other receivables
( 3,204,797) (228,674)
(1,722,625) (15,440)
(1,125,216) (15,440)
(1,125,216) (15,440)
- amount owing by an associate
(3,433,471)
(1,738,065)
(1,140,656)
(1,140,656)
786,159
985,316
317,366
500,338
Total receivables
967,687
1,427,290
498,894
942,312
758,530 -
Prepayments GST receivables
698,355 531,368
638,537 -
531,368 526,924
Trade and other receivables
1,726,217
2,657,013
1,137,431
2,000,604
(a)
Total receivables are classified as financial assets measured at amortised cost.
(b)
Trade receivables are non-interest bearing and the normal credit terms granted by the Group and the Company ranged from 30 to 60 days (2019: 30 to 60 days) from date of invoice. They are recognised at their original invoice amount, which represent their fair values on initial recognition.
(c)
In the previous financial year, amounts owing by subsidiaries represented advances and payments made on behalf, which were unsecured, interest-free and payable within next twelve (12) months in cash and cash equivalents.
(d)
Amount owing by an associate represents advances and payments made on behalf, which is unsecured, interest-free and payable within next twelve (12) months in cash and cash equivalents.
(e)
The Group and the Company have no significant concentration of credit risk other than one (1) trade receivable (2019: three (3) trade receivables) amounting to RM89,665 (2019: RM177,322), which constituted 49% (2019: 40%) of the total trade receivables of the Group and of the Company.
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