ANNUAL%20REPORT%202015%20eng

Notes to Consolidated Financial Statements
21 TRADE AND OTHER RECEIVABLES (Continued)
(b)
Impairment of trade receivables
Impairment losses in respect of trade receivables are recorded using an allowance account unless the
Group is satisfied that recovery of the amount is remote, in which case the impairment loss is written
off against trade receivables directly (Note 2(k) (i)).
The movement in the allowance for doubtful debts during the year is as follows:
2015 2014
USD’000 USD’000
At 1 January 10,135 5,029
Provision for impairment losses 8,512 8,806
Amounts written off (18,211) (3,700)
At 31 December 436 10,135
As at 31 December 2015, an allowance for doubtful debts amounting to USD436,000 (2014:
USD10,135,000) was made on a collective basis in respect of the Group’s trade receivable balances
outstanding at the balance sheet date, which have been included in “general and administrative
expenses” in the consolidated statement of comprehensive income.
During the year ended 31 December 2015, management assessed that the recoverability of trade
receivables due from certain customers is remote, and USD18,211,000 have been written off against
allowance for doubtful debts.
(c)
Other receivables
2015 2014
USD’000 USD’000
Amounts due from related parties (Note (i)) 456 607
Prepayments and deposits (Note (ii)) 25,462 31,448
VAT and other tax receivables (Note (iii)) 20,752 35,786
Amounts due from the GoM in relation to the
termination of the Concession Agreement (Note (iv)) 41,952 44,408
Others (Note (v)) 3,695 13,141
92,317 125,390
166
Annual Report 2015