Notes to Financial Statements

Middle East Development Singapore Ltd.Annual Report 2008 57Notes to Financial Statements30 June 20088 TRADE AND OTHER RECEIVABLES (Cont’d)Movement in the allowances for doubtful debtsGroupCompany2008 2007 2008 2007$ $ $ $Balance at beginning of year 1,945,212 2,182,519 770,743 835,405Translation adjustment 21,215 (1,161) – –Amounts recovered during the year (20,217) (264,220) – (61,565)Amount written off during the year (591,804) (10,206) – (4,965)Increase in allowances 397,421 38,280 1,951,612 1,868Balance at end of year 1,751,827 1,945,212 2,722,355 770,743The average credit period on sale of goods is 30 days to 120 days (2007 : 30 to 120 days). No interest is chargedon the overdue trade receivables.The table below is an analysis of trade receivables as at 30 June:GroupCompany2008 2007 2008 2007$ $ $ $Not past due and not impaired 1,820,559 2,589,213 – 51,717Past due but not impaired (i) 4,101,568 4,254,104 – –5,922,127 6,843,317 – 51,717Impaired receivables –collectively assessed (ii) 1,739,182 1,897,856 630,737 630,737Less: Provision for impairment (1,739,182) (1,897,856) (630,737) (630,737)– – – –Impaired receivables –individually assessed (ii) (iii)Customer placed under liquidation 12,645 36,682 – –Past due more than 36 months andno response no repayment demand – 10,674 – –Less: Provision for impairment (12,645) (47,356) – –– – – –Total trade receivables, net 5,922,127 6,843,317 – 51,717(i) Aging of receivables that are past due butnot impaired:< 3 months 1,654,352 1,202,649 – 51,7173 months to 6 months 899,971 963,538 – –6 months to 12 months 691,210 958,708 – –> 12 months 856,035 1,129,209 – –4,101,568 4,254,104 – 51,717Included in the Group’s trade receivables are debtors with a carrying amount of $4,101,568 (2007: $4,254,104)which are past due at the reporting date for which the Group has not provided as there has not been a signifi cantchange in credit quality and the amounts are still considered recoverable. The Group does not hold any collateralover these balances.