Advances to contract manufacturers – third parties
5,350
2,369
5,611
2,856
Total trade and other receivables
12,204
10,406
Movement in the above impairment losses:
Beginning balances
43
279
Charge for the financial year
236
4
Ending balance
279
283
(a)
Trade receivables are non-interest
bearing and the normal credit terms granted by the Company is 30 to 90 days (2023: 30 to 90 days). They are recognized at their
original invoice amounts, which represent their fair values on initial recognition.
(b)
Other receivables from third parties consist mainly of advances to contract manufacturers. The Company
expected to be offset with contract manufacturers charges in the next 12 months.
(c)
Prepayments from third parties
consist mainly of the cost of installation of Enterprise Resource Planning (ERP) system and prepaid insurances.