Annual Report - AWB Limited

AWB LIMITED Notes to and forming part of the financial statements for the year ended 30 September 2008ConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’0005. Loans and Advances (continued)Loans and advancesGrower loan receivables 275,847 129,094 - -Finance advances 3,556 4,495 - -Rural loans and advances 2,342,270 2,129,187 - -Collective provison for impairment - rural loans and advances (20,266) (17,658) - -Specific provision for impairment - rural loans and advances (13,438) (14,236) - -2,587,969 2,230,882 - -The grower loans and finance advance loan portfolios do not have past due components and are not impaired; both portfolios are secured byharvested and graded grain which is ready for sale.Past due not impaired rural loans and advancesPast due to 90 days 9,227 20,262 - -Past due 91+ days 46,605 59,902 - -55,832 80,164 - -Past due not impaired rural loans and advances include full loan amounts of customer accounts which have exceeded loan facility amountsor have passed their payment dates. Full recovery of these accounts is considered likely.Renegotiated loans and advancesLoans and advances which are expected to be fully recovered, but where the terms have been renegotiated to provide concessions such thatthey are no longer considered impaired:Carrying value of renegotiated loans and receivables 13,684 1,964 - -Movements in the provision for impairment on rural loans and advancesCarrying amount at the beginning of the year (31,894) (20,915) - -Provision raised during the year (7,488) (7,899) - -Provisions released during the year 4,105 - - -Non-accrual interest (4,873) (4,098) - -Provisions utilised (written off during the year) 6,446 1,018 - -(33,704) (31,894) - -72 www.awb.com.au