NOTES TO FINANCIAL STATEMENTS
30 June 2015
Annual Report 2015
Karin Technology Holdings Limited
95
17. TRADE AND BILLS RECEIVABLES
(continued)
Notes: (continued)
(c)
The ageing analysis of the trade receivables that are not considered to be impaired is as follows:
Group
2015
HK$’000
HK$’000
Neither past due nor impaired
270,315
213,606
Past due for less than one month
82,195
Past due for one to three months
27,090
Past due for over three months
5,711
10,331
385,311
Trade receivables that were neither past due nor impaired relate to a large number of diversified customers for whom
there was no recent history of default. Trade receivables that were past due but not impaired relate to a number of
independent customers that have a good track record with the Group. Based on past experience, the directors of the
Company are of the opinion that no provision for impairment is necessary in respect of these balances as there has
not been a significant change in credit quality and the balances are still considered fully recoverable. The Group does
not hold any collateral or other credit enhancements over these balances.
18. FACTORED TRADE RECEIVABLES
In prior year, the Group entered into receivable purchase agreements with a financial institution for the factoring
of trade receivables with certain designated customers. At 30 June 2015, trade receivables factored to the financial
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received by the Group as consideration at 30 June 2015 were recognised as “other borrowings” and included
in “interest-bearing bank and other borrowings” (note 23).
At 30 June 2015, the aforementioned factored trade receivables were neither past due nor impaired.
