Singapore Airlines 2009 Annual Report Download - page 177
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175
28 Trade Debtors (in $ million) (continued)
Trade debtors are non-interest bearing. The carrying amount of trade debtors impaired by credit losses is
reduced through the use of an allowance account unless the Group writes off the amount ascertained to be
uncollectible. In subsequent periods when a trade debtor is ascertained to be uncollectible, it is written off
against the allowance account.
Signifi cant fi nancial diffi culties of the debtor, probability that the debtor will enter bankruptcy or fi nancial
reorganisation, and default or delinquency in payments (more than 90 days aging of debtor balances)
are considered indicators that the trade debtor is impaired. Individual trade debtor is written off when
management deems the amount not to be collectible.
Trade debtors are stated after accumulated impairment losses. An analysis of the accumulated impairment
losses is as follows:
The Group The Company
31 March 31 March
2009 2008 2009 2008
Balance at 1 April 17.1 14.4 4.4 4.3
Charged during the year 12.3 2.9 7.2 0.1
Written off during the year (0.6) (0.2) - -
Acquisition of a subsidiary company 7.0 - - -
Balance at 31 March 35.8 17.1 11.6 4.4
Bad debts written off directly to profi t and loss
account, net of debts recovered 2.4 1.1 1.2 0.2
As at 31 March 2009, the composition of trade debtors held in foreign currencies by the Group is as follows:
USD – 46.4% (2008: 45.1%), AUD – 5.9% (2008: 5.7%), EUR – 7.3% (2008: 6.2%) and JPY – 3.4%
(2008: 3.4%).
There was no loan to directors of the Company and its subsidiary companies in accordance with schemes
approved by shareholders of the Company.