17.
TRADE AND OTHER RECEIVABLES
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Financial assets
Trade receivables
Third parties
32,807
36,466
28,403
24,155
Amounts due from subsidiaries
–
–
6,560
12,182
Amounts due from related parties
29
78
29
78
Allowance for doubtful receivables
(3,083)
(3,099)
(4,648)
(2,144)
29,753
33,445
30,344
34,271
Other receivables
Third parties
928
742
518
484
Advance to suppliers for purchase of
inventories
1
1
–
–
Rental, utilities and other deposits
1,260
1,356
1,101
1,344
Amounts due from subsidiaries
–
–
16,223
21,101
Amounts due from related parties
–
3
–
3
Amounts due from shareholders of
a subsidiaries
–
–*
–
–
Allowances for doubtful receivables
from third parties (non-trade)
(53)
–
–
–
Allowances for doubtful receivables
from subsidiaries
–
–
(1,824)
(7,297)
2,136
2,102
16,018
15,635
Total financial assets
31,889
35,547
46,362
49,906
Non-financial asset
GST receivable
–
2
–
–
31,889
35,549
46,362
49,906
Other receivables (third parties) include an amount of $300,000 (2014: $300,000) receivable from
the sale of the Company’s leasehold buildings.
*
Through a revised agreement in 2014 with the shareholders of the subsidiary, Jin Heng Li Hardware Sdn Bhd (”JHL”), the amount
receivable was $236,000. Accordingly, the Group wrote off the balance of $368,000.
The amount receivable of $236,000 was settled through set off with the consideration for the
acquisition of ownership interest in JHL (Note 12).
94
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
