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226 / MRCB annual report 2011 /
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2011
27 TRADE AND OTHER RECEIVABLES (cont’d)
Trade and other receivables that are neither past due nor impaired
Credit terms of trade receivables range from 30 to 60 days (2010: range from 30 to 60 days).
Other than receivables that are impaired, trade and other receivables comprise:
- Receivables in relation to construction business arising from rendering of construction services to companies with a
good collection track record with the Group and the Company. These receivables include retention sums which are to
be settled in accordance with the terms of the respective contracts;
- Receivables in relation to property development activities arising from sale of development units to large number of
property purchasers with end financing facilities from reputable end-financiers, and the ownership and rights to the
properties revert to the Group in the event of default; and
- Receivables from other external parties with no history of default.
As at 31 December 2011, the Group’s and the Company’s trade receivables of RM55,936,904 (2010: RM44,800,465) and
RM1,378,000 (2010: RM13,589,581) were past due their contractual payment date but not impaired. These relate to a
number of external parties where there is no expectation of default. The age analysis of these trade receivables is as
follows:
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Less than three months 8,183 15,402 – 294
Between three to six months 3,873 6,342 635 24
Between six months and one year 5,852 16,832 – 13,242
More than one year 38,029 6,224 743 29
55,937 44,800 1,378 13,589
As at 31 December 2011, the Group’s and the Company’s trade receivables of RM18,178,696 (2010: RM 22,995,163) and
RM2,364,332 (2010:RM2,364,332) were impaired and provided for. The ageing of these receivables is as follows:
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Within 6 months – – – –
More than 6 months 18,178 22,995 2,364 2,364
18,178 22,995 2,364 2,364