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Notes to the Financial Statements (cont’d)<br />
For the financial year ended 31 December 2011<br />
24. Trade and other receivables (cont’d)<br />
Receivables that are impaired<br />
The Group’s and the Company’s trade and other receivables that are impaired at the reporting date and the movement of<br />
allowance accounts used to record the impairment are as follows:<br />
Group Company<br />
Individually impaired<br />
2011 2010 2011 2010<br />
RM’000 RM’000 RM’000 RM’000<br />
Trade and other receivables- nominal amounts 29,126 16,167 25,557 18,573<br />
Less: Allowance for impairment (22,803) (7,989) (19,234) (10,395)<br />
Movement in the allowance accounts:<br />
6,323 8,178 6,323 8,178<br />
Group Company<br />
2011 2010 2011 2010<br />
RM’000 RM’000 RM’000 RM’000<br />
At 1 January 7,989 5,617 10,395 4,699<br />
Impairment for the year (Note 10) 14,808 2,854 8,936 5,932<br />
Amounts written-off (143) (296) (143) (132)<br />
Reversal of impairment (Note 7) – (104) – (104)<br />
Exchange adjustment 149 (82) 46 –<br />
At 31 December 22,803 7,989 19,234 10,395<br />
Trade receivables that are individually determined to be impaired at the reporting date relate to debtors that are in significant<br />
financial difficulties and have defaulted on payments. Included in the net carrying amount of trade receivables is an amount<br />
of RM6,319,000 (2010: RM8,178,000) for the Group and the Company which is secured by a charge on the share of tribute<br />
of a tin mining concession.<br />
25. Other current assets<br />
Group Company<br />
2011 2010 2011 2010<br />
RM’000 RM’000 RM’000 RM’000<br />
Prepaid operating expenses 4,570 7,144 4,362 3,000<br />
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 133