Page 76 -
P. 76
Notes to the Consolidated Financial Statements
31st March 2016
21 TRADE AND OTHER RECEIVABLES
2016 2015
HK$’000 HK$’000
Non-current
Prepayments, deposits and other receivables (Note) 41,068 60,692
Current
Trade receivables 662,059 533,406
Prepayments, deposits and other receivables (Note) 30,875 27,582
692,934 560,988
734,002 621,680
Note: As at 31st March 2016, other receivables included HK$43,374,000 (2015: HK$58,414,000) consideration receivable from PVI
Global Corporation (a subsidiary of E Ink Holdings Inc. (“E Ink”)) for the disposal of the corporate bond of Hydis Technologies
Company Limited. A guarantee was granted by E Ink to cover the entire receivable amount.
During the previous financial year, the Group entered into loan agreements with a company incorporated
in Denmark under which loans amounted to HK$879,000 (2015: HK$5,587,000) were granted by
the Group to the company for the purposes of promoting the bicycle business in Europe. The loans
are interest bearing and will be repayable within one year from the grant date. Such loans were fully
provided taking into account the measurable decrease in estimated future cash flows.
The credit terms given to customers vary and are generally based on the financial strengths of individual
customers. In order to manage the credit risks associated with trade receivables, credit evaluations of
customers are performed periodically.
The fair values of the trade and other receivables approximate to their carrying amounts.
At 31st March 2016 and 2015, the ageing analysis of the trade receivables based on shipping terms is
as follows:
2016 2015
HK$’000 HK$’000
0 – 30 days 58,780 143,255
31 – 60 days 110,303 110,115
61 – 90 days 51,483 54,240
Over 90 days 441,493 225,796
662,059 533,406
As at 31st March 2016, trade receivables of HK$359,587,000 (2015: Nil) were past due with reference
to the credit terms offered.
The overdue sum is not considered as impaired since the overdue sum has been settled in June 2016.
74 ALCO HOLDINGS LIMITED ANNUAL REPORT 2016
