123 / 152
Notes to the
financial statements
For the financial year ended 31 December 2018
121
A N N U A L R E P O R T
2 0 1 8
18.
Trade and other receivables (cont’d)
The Group’s trade receivables denominated in foreign currencies at 31 December are as follows:
Group
Company
31.12.2018
31.12.2017 1.1.2017
31.12.2018
31.12.2017 1.1.2017
$’000
$’000 $’000
$’000
$’000 $’000
United States Dollar
4,874
1,702 4,132
–
–
832
Arab Emirates Dirham
1,142
–
–
–
–
–
Expected credit loss of trade receivables (for 31 December 2018)
The Group provides for lifetime expected credit losses for all trade receivables using a provision
matrix. The basis of determination of loss allowance are disclosed in Note 27(c).
Group
31.12.2018
Gross
amount
Loss
allowance
Carrying
amount
$’000 $’000 $’000
Current
11,692
–
11,692
< 3 months past due
6,001
–
6,001
3 to 6 months past due
1,171
–
1,171
6 to 12 months past due
640
–
640
>12 months past due
2,148
(329)
1,819
21,652
(329)
21,323
Trade receivables that are past due but not impaired (for 31 December 2017 and 1 January 2017)
The Group has trade receivables amounting to $448,000 (2017: $2,952,000) that are past due at
the end of the reporting period but not impaired. These receivables are unsecured and the analysis
of their aging at the end of the reporting period is as follows:
Group
31.12.2017
1.1.2017
$’000 $’000
Trade receivables past due but not impaired:
Lesser than 30 days
142
643
30 to 60 days
72
1,238
61 to 90 days
31
1,003
More than 90 days
203
68
448
2,952