20 TRADE AND OTHER RECEIVABLES CONTINUED¡
Notes:
(a) The amounts due from related companies, associated companies and joint ventures of the Group are unsecured,
interest free and have no fixed terms of repayment.
(b) At 31 December 2015, trade receivables of the Group amounting to HK$1,391,857,000 (2014: HK$1,057,471,000) were
past due but not impaired. These relate to a number of independent customers for whom there is no recent history of
default. The ageing analysis of these trade receivables is as follows:
2015
2014
HK$’000
HK$’000
Up to 2 months
654,644
594,113
2 to 3 months
213,446
218,820
Over 3 months
523,767
244,538
1,391,857
1,057,471
(c) At 31 December 2015, trade receivables of the Group amounting to HK$14,961,000 (2014: HK$11,967,000) were impaired
and provided for. The impaired receivables are balances in dispute with customers. The Group does not hold any
collateral over these balances.
Movements of provisions for impairment of trade receivables of the Group are as follows:
2015
2014
HK$’000
HK$’000
At beginning of the year
11,967
14,553
Provision for impairment
3,899
1,908
Write back of provision for impairment
(561)
(4,033)
Receivables written o
as uncollectible
(173)
(37)
Disposal of subsidiary companies
-
(319)
Currency translation di
erences
(171)
(105)
At end of the year
14,961
11,967
The creation and release of provisions for impairment of receivables have been included in the income statement.
Amounts charged to the provision for impairment of receivables are generally written o
when there is no expectation
of recovering additional cash.
The other classes within trade and other receivables do not contain impaired assets.
The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivables
mentioned above.
Notes to the
Financial Statements
099
ANNUAL REPORT 2015
HUTCHISON PORT HOLDINGS TRUST
