NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 8. TRADE AND OTHER RECEIVABLES (continued) Impairment losses The ageing of trade and other receivables (excluding prepayments and amount due from related party - NCI (non-trade)) at the reporting date is: Gross Impairment 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Group Not past due 8,715 13,268 11 263 Past due 1 – 30 days 1,125 4,346 – 58 Past due 31 – 60 days 686 4,637 51 35 Past due 61 – 90 days 578 3,097 – 52 More than 90 days past due 3,423 7,324 342 424 14,527 32,672 404 832 Trust Not past due 644 171 – – Expected credit loss assessment for individual tenants as at 1 January and 31 December 2023 The Group uses an allowance matrix to measure the ECLs of trade receivables from many different individual tenants, which comprise of small balances each. Loss rates are calculated using a ‘roll rate’ method based on the probability of a receivable progressing through successive stages of delinquency to write-off and are based on actual credit loss experience over the past five years. The Manager believes that no allowance for impairment beyond the amounts provided for is necessary in respect of trade receivables as these receivables relate mainly to tenants that have good records with the Group or have sufficient security deposits as collateral, and hence ECL is not material. The movement in the allowance for impairment in respect of trade receivables during the year is as follows: Group Note 2023 2022 $’000 $’000 At 1 January 832 410 Impairment losses on trade receivables, net 19 93 595 Reclassified to asset held for sale (15) – Allowance utilised (482) (110) Translation difference (24) (63) At 31 December 404 832 190 CAPITALAND CHINA TRUST
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