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Notes to the Consolidated Financial Statements

31st March 2018

21 TRADE RECEIVABLES, PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES
(CONTINUED)

Movements of the provision for impairment of trade receivables are as follows:

2018 2017
HK$’000 HK$’000

Beginning of the year – –
Provision for doubtful debt 2,908 –

End of the year 2,908 –

At 31st March 2018 and 2017, the ageing analysis of the trade receivables based on shipping terms is
as follows:

2018 2017
HK$’000 HK$’000

0 – 30 days 103,685 102,368
31 – 60 days 153,351 95,899
61 – 90 days 111,182 132,720
Over 90 days 455,506 366,235

823,724 697,222

As at 31st March 2018, trade receivables of HK$351,444,000 (2017: HK$163,543,000) were past due
with reference to the credit terms offered. The overdue sum is not considered as impaired since the
overdue sum has been fully settled in early July 2018.

The credit quality of trade receivables that are neither past due nor impaired can be assessed by
reference to historical information about counterparty default rates.

2018 2017
HK$’000 HK$’000

Counterparties without external credit rating
– New customers (less than 6 months) 5,899 1,719
– Customers (more than 6 months) with no defaults in
the past 817,825 695,503
823,724 697,222

ALCO HOLDINGS LIMITED ANNUAL REPORT 2018 105