Singapore Airlines 2015 Annual Report Download - page 179

29 Trade Debtors (in $ million) (continued)
In 2014, the interest in the short-term loans to a subsidiary company were computed using SGD swap-oer rates plus an agreed
margin. The loans were denominated in SGD and interest rates ranged from 1.38% to 1.40% per annum. Net carrying amount
of the loans approximate fair value as interest rates implied in the loans approximate market interest rates.
Significant financial diiculties of the debtor, probability that the debtor will enter bankruptcy or financial 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 o when Management deems the amount not to be collectible.
Accrued receivables pertain to services rendered in advance of billings.
Amounts owing by subsidiary, associated and joint venture companies are unsecured, trade-related, non-interest bearing and
are repayable on demand. The amounts are neither overdue nor impaired.
The table below is an analysis of trade debtors as at 31 March:
The Group The Company
31 March 31 March
2015 2014 2015 2014
Not past due and not impaired 1,365.7 1,509.4 1,276.3 1,290.8
Past due but not impaired 119.2 95.2 28.5 1.4
1,484.9 1,604.6 1,304.8 1,292.2
Impaired trade debtors – collectively assessed 10.0 4.7 0.4 0.2
Less: Accumulated impairment losses (9.7) (4.6) (0.1) –
0.3 0.1 0.3 0.2
Impaired trade debtors – individually assessed
Customers in bankruptcy or other financial
reorganisation 6.1 6.3 0.1 –
Customers who default in payment within
stipulated framework of IATA Clearing House
or Bank Settlement Plan 2.7 4.3 2.8 4.2
Less: Accumulated impairment losses (7.1) (10.6) (2.8) (4.0)
1.7 – 0.1 0.2
Total trade debtors, net 1,486.9 1,604.7 1,305.2 1,292.6
Short-term loans to a subsidiary company – – – 420.5
1,486.9 1,604.7 1,305.2 1,713.1
Singapore Airlines | Annual Report FY2014/15 |177