Note 7. Trade Receivables

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All trade receivables comprise accounts from contracts with customers.

As at December 31, 2024, the Group recognized a loss allowance of $14 (2023: $17) against its trade receivables. The movements in the loss allowance during the years ended December 31, 2024 and 2023 were as follows:

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In accordance with IFRS 9, management reviews the expected credit losses based upon, among other things, the credit-worthiness of the exposure, collateral and other risk mitigation instruments, and the nature of the underlying business transaction.

For further discussions on credit risk, see Note 25.