ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad

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WAWASAN TKH HOLDINGS BERHAD (540218-A) ANNUAL REPORT 2012 069 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 (cont’d) 11. TRADE AND OTHER RECEIVABLES (cont’d) (e) The ageing analysis of trade receivables of the Group are as follows: Neither past due nor impaired Past due, not impaired 1 to 30 days 31 to 60 days 61 to 90 days 91 to 120 days 121 to 150 days 151 to 180 days More than 181 days Past due and impaired Receivables that are neither past due nor impaired 2012 RM’000 3,986 2,021 364 38 10 18 16 96 2,563 1,535 8,084 Group 2011 RM’000 4,082 2,314 752 812 215 3 7 73 4,176 1,595 9,853 Trade receivables that are neither past due nor impaired are creditworthy receivables with good payment records with the Group. None of the trade receivables of the Group that are neither past due nor impaired have been renegotiated during the financial year. Receivables that are past due but not impaired Trade receivables that are past due but not impaired mainly arose from active corporate clients with healthy business relationship, in which the management is of the view that the amounts are recoverable based on past payments history. The trade receivables of the Group that are past due but not impaired are unsecured in nature. Receivables that are past due and impaired Trade receivables of the Group that are past due and impaired at the end of the reporting period are as follows: Group Individually impaired 2012 2011 RM’000 RM’000 Trade receivables, gross Less: Impairment loss 1,535 (1,535) - 1,595 (1,595) -
070 WAWASAN TKH HOLDINGS BERHAD (540218-A) ANNUAL REPORT 2012 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 (cont’d) 11. TRADE AND OTHER RECEIVABLES (cont’d) (f) The reconciliation of movements in the impairment loss on trade receivables are as follows: At 1 January Charge for the financial year (Note 20) Reversal of impairment loss (Note 20) Exchange differences At 31 December 2012 RM’000 1,595 - (87) 27 1,535 Group 2011 RM’000 1,504 88 (18) 21 1,595 Trade receivables that are individually determined to be impaired at the end of the reporting period relate to those receivables that exhibit significant financial difficulties and have defaulted on payments. These receivables are not secured by any collateral or credit enhancements. (g) The reconciliation of movements in the impairment loss on deposits and prepayments are as follows: At 1 January Written off At 31 December 2012 RM’000 184 (184) - Group 2011 RM’000 184 - 184 12. DERIVATIVE FINANCIAL INSTRUMENTS Group Contract/ Notional amount RM’000 2012 Assets RM’000 Liabilities RM’000 Contract/ Notional amount RM’000 2011 Assets RM’000 Liabilities RM’000 Forward currency contracts 1,851 - 23 3,365 14 46 Forward currency contracts have been entered into for hedging forecast sales denominated in foreign currencies that are expected to occur at various dates within six (6) months from the end of the reporting period. The forward currency contracts have maturity dates that coincide with the expected occurrence of these transactions. The fair values of these components have been determined based on the differences between the quarterly future rates and the strike rates, discounted at the convenience yield of the instruments involved. During the financial year, the Group recognised total gains of RM9,000 (2011: total losses of RM74,000) arising from fair value changes of derivative instruments. The fair value changes are attributable to changes in foreign exchange spot and forward foreign exchange rates. The methods and assumptions applied in determining the fair values of derivatives are disclosed in Note 26 to the financial statements.
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WAWASAN TKH HOLDINGS BERHAD (540218
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002 CORPORATE INFORMATION BOARD OF
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004 CHAIRMAN’S STATEMENT (cont’
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006 DIRECTORS' PROFILE ____________
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008 DIRECTORS' PROFILE (cont’d) Y
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010 STATEMENT ON CORPORATE GOVERNAN
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016 STATEMENT ON RISK MANAGEMENT &
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ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad

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