Notes to the financial statements Year ended 31 December 2024 8. TRADE AND OTHER RECEIVABLES (continued) Impairment losses The ageing of trade and other receivables (excluding prepayments and amount due from related party – NCI (nontrade)) at the reporting date is: Gross Impairment 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Group Not past due 8,236 8,715 42 11 Past due 1 – 30 days 1,044 1,125 – – Past due 31 – 60 days 971 686 – 51 Past due 61 – 90 days 790 578 – – More than 90 days past due 2,255 3,423 341 342 13,296 14,527 383 404 Trust Not past due 94 644 – – Expected credit loss assessment for individual tenants as at 1 January and 31 December 2024 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 2024 2023 $’000 $’000 At 1 January 404 832 Impairment losses on trade receivables, net 19 37 93 Reclassified to asset held for sale – (15) Asset disposal 9 – Written-off (65) (482) Translation difference (2) (24) At 31 December 383 404 127 Annual Report 2024
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