Singapore Press Holdings annual report 2011 Singapore Press ...

Notes to the
Financial StatementS
August 31, 2011
160 Singapore Press Holdings annual report 2011
31. FINANCIAL RISK MANAGEMENT (CONT’D)
(b)
Credit risk (cont’d)
(ii) Financial assets that are past due and/or impaired
The age analysis of trade receivables past due but not impaired is as follows:
Group
Company
2011 2010 2011 2010
S$’000 S$’000 S$’000 S$’000
Past due 0 to 30 days 18,097 18,969 11,669 13,343
Past due 31 to 60 days 5,494 6,646 2,514 2,641
Past due 61 to 90 days 2,653 2,284 886 594
Past due over 90 days 3,665 3,108 1,115 795
29,909 31,007 16,184 17,373
The carrying amount of trade receivables individually determined to be impaired and the
movements in the related allowance for impairment are as follows:
Group
Company
2011 2010 2011 2010
S$’000 S$’000 S$’000 S$’000
Gross amount 10,342 10,177 8,318 8,366
Less: Allowance for impairment (10,342) (10,177) (8,318) (8,366)
- - - -
Beginning of financial year 10,177 9,701 8,366 7,892
Disposal of a subsidiary (5) - - -
Allowance made 1,586 2,306 590 1,443
Allowance utilised (1,293) (1,852) (638) (969)
Currency translation difference (123) 22 - -
End of financial year 10,342 10,177 8,318 8,366
Certain past due or impaired trade receivables are backed by bankers’/insurance guarantees
and/or deposits from customers. It is not practicable to determine the fair value of the
collaterals that correspond to these trade receivables.
The basis of determining impairment is set out in the accounting policy Note 2(j)(v).