11 TRADE AND OTHER RECEIVABLES
(continued)
The Group’s and Company’s primary exposure to credit risk arises through its trade and amounts due from related corporations.
The Group’s historical experience in the collection of accounts receivable falls within the recorded allowances. As a result,
management believes that no additional credit risk beyond the amounts provided for is inherent in the Group’s trade receivables
and balances due from related corporations.
Unbilled receivables relate to accrued sales made that have not been invoiced as at the balance sheet date.
The maximum exposure to credit risk for loans and receivables at the reporting date (by type of customer) is:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Related parties
30,062
50,573
16,758
32,006
Subsidiaries
–
–
5,238
5,291
Immediate holding company
–
3
–
3
Ultimate holding company
27
–
–
–
Non-related parties:
– Multinational companies
9,308
10,891
–
–
– Other companies
39,542
34,604
2,826
7,670
78,939
96,071
24,822
44,970
Impairment losses
The ageing of loans and receivables at the reporting date is:
Gross
Impairment
losses
Gross
Impairment
losses
2015
2015
2015
2014
$’000
$’000
$’000
$’000
Group
No credit terms
21,810
–
19,280
–
Not past due
39,668
–
43,430
–
Past due 0 – 30 days
9,483
5
24,273
–
Past due 31 – 120 days
7,183
14
8,850
9
Past due 121 – 360 days
225
26
228
60
More than one year
678
63
97
18
79,047
108
96,158
87
Company
No credit terms
726
–
5,190
–
Not past due
21,194
–
23,374
–
Past due 0 – 30 days
2,300
–
15,679
–
Past due 31 – 120 days
602
–
727
–
Past due 121 – 360 days
–
–
45
45
More than one year
45
45
–
–
24,867
45
45,015
45
89
TELECHOICE INTERNATIONAL LIMITED
2015 ANNUAL REPORT
NOTES TO THE
FINANCIAL STATEMENTS
