Notes to the Financial Statements
31 December 2015
16.
Development properties (cont’d)
The carrying amount of the development property under construction has been pledged as security for a bank
loan (Note 25).
List of development properties
* The construction of the industrial property was completed in 2014.
17.
Trade receivables
Trade receivables
Trade receivables are non-interest bearing and are generally on 14-56 days’ credit terms. They are recognised at
their original invoice amounts which represent their fair values on initial recognition.
Receivables that are past due but not impaired
The Group has trade receivables amounting to S$121,000 (2014: S$32,000) that are past due at the end of the
reporting period but not impaired. These receivables are unsecured and the analysis of their ageing at the end
of the reporting period is as follows:
Description and location
%
owned
Site area
VTXDUH
metre)
Approximate
VDOHDEOH ȵRRU DUHD
VTXDUH PHWUH
Stage of completion as
at date of annual report
(expected year of completion)
Industrial property at
Tuas South Avenue 7
100
25,700
49,489
4.7% (2018)
Industrial property at
Gambas Avenue
100
21,427
49,046
100% (2014*)
Group
2015
2014
S$’000
S$’000
Trade receivables
6,469
42,415
Allowance for impairment
(34)
–
6,435
42,415
Group
2015
2014
S$’000
S$’000
Trade receivables past due but not impaired:
Lesser than 30 days
ȫ
5
30 to 60 days
75
8
60 to 90 days
ȫ
3
More than 90 days
46
16
121
32
ANNUAL REPORT 2015
71
