FRENCKEN GROUP LIMITED
ANNUAL REPORT 2015
115
NOTES TO FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONT’D)
34 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D)
(b) Credit risk (Cont’d)
(ii) Financial assets that are past due and/or impaired (Cont’d)
(a) Trade receivables (Cont’d)
The carrying amount of trade receivables individually determined to be impaired and the movement
in the related allowance for impairment are as follows:
The Group
2015
$’000
2014
$’000
Gross amount
427
650
Less: Allowance for impairment (Note 19)
(427)
(650)
-
-
Beginning of financial year
650
536
Currency translation difference
3
(6)
Allowance made
16
149
Allowance written off
(242)
(29)
End of financial year
427
650
In the opinion of the management, based on the review of the trade receivables, including balances
that are past due, allowance for doubtful receivables at the end of the financial year is adequate.
(b) Other receivables
As at the end of financial year 2015 and 2014, no other receivables are past due but not impaired.
The carrying amount of other receivables individually determined to be impaired and the movement
in the related allowance for impairment are as follows:
The Group
2015
$’000
2014
$’000
Gross amount
1,311
1,446
Less: Allowance for impairment (Note 21)
(1,311)
(1,446)
-
-
Beginning of financial year
1,446
1,698
Currency translation difference
(27)
(74)
Allowance made
84
-
Allowance written off
(192)
(178)
End of financial year
1,311
1,446
