Dagang NeXchange Berhad Annual Report 2018

30. FINANCIAL INSTRUMENTS (CONTINUED) 30.4 Credit risk (continued) Receivables and contract assets (continued) Recognition and measurement of impairment losses The following table provides information about the exposure to credit risk and the expected credit losses (“ECLs”) for receivables and contract assets (excluding prepayments) as at 31 December 2018 which are grouped together as they are expected to have similar risk nature. 2018 Gross- Impairment carrying loss Net amount allowances balances Group RM’000 RM’000 RM’000 Current (not past due) 135,110 1,478 133,632 31 - 60 days past due 22,780 669 22,111 61 - 90 days past due 889 105 784 More than 90 days past due 43,808 1,301 42,507 202,587 3,553 199,034 Credit impaired Individually impaired 7,065 7,065 - 209,652 10,618 199,034 Trade and other receivables 132,667 10,568 122,099 Contract assets 76,985 50 76,935 209,652 10,618 199,034 The movements in the allowance for impairment in respect of receivables and contract assets (excluding prepayments) during the financial year are shown below. 2018 Receivables Lifetime Credit Contract ECL impaired assets Total Group RM’000 RM’000 RM’000 RM’000 Balance at 1 January as per MFRS 139 5,979 Adjustments on initial application of MFRS 9 4,273 Balance at 1 January as per MFRS 9 2,386 7,791 75 10,252 Acquisition through business combination - 241 - 241 Amounts written off - (1,471) - (1,471) Net remeasurement of loss allowance 1,117 504 (25) 1,596 Balance at 31 December 3,503 7,065 50 10,618 165 Annual Report 2018 Notes to the Financial Statements (CONTINUED) FINANCIAL STATEMENTS