The Group’s other financial receivables at 31 December 2020 and as at 31 December 2019 mainly relate to institutional customers (share of 99.69% and 99.94%, respectively).
As at 31 December 2020, the main item of other financial receivables are margin deposits and other collaterals provided in respect of transactions entered into on stock exchange markets. In the Company’s opinion commodity exchange mechanisms and collateral used materially mitigate the credit risk. In addition to stock exchange collaterals, there is no significant concentration of credit risk associated with other financial receivables.
With respect to other financial receivables measured at amortised cost at the balance sheet date, the Group estimates the impairment loss.
Ageing of other financial receivables measured at amortised cost as at 31 December 2020
Export to Excel| Not past due | Past due | Total | |||||
|---|---|---|---|---|---|---|---|
| <30 days | 30-90 days | 90-180 days | 180-360 days | >360 days | |||
| Value of item before allowance/write-down | 114,190 | 2,717 | 9,440 | 8,284 | 6,473 | 79,925 | 221,029 |
| Allowance/write-down | (6,706) | (1,190) | (9,327) | (8,277) | (6,380) | (79,905) | (111,785) |
| Net Value | 107,484 | 1,527 | 113 | 7 | 93 | 20 | 109,244 |
Ageing of other financial receivables measured at amortised cost as at 31 December 2019
Export to Excel| Not past due | Past due | Total | |||||
|---|---|---|---|---|---|---|---|
| <30 days | 30-90 days | 90-180 days | 180-360 days | >360 days | |||
| Value of item before allowance/write-down | 206,721 | 5,526 | 5,055 | 1,428 | 2,124 | 97,633 | 318,487 |
| Allowance/write-down | (9,330) | (3,317) | (2,576) | (1,391) | (2,113) | (97,408) | (116,135) |
| Net Value | 197,391 | 2,209 | 2,479 | 37 | 11 | 225 | 202,352 |
Change in allowances/write-downs on other financial receivables measured at amortised cost
Export to Excel| Year ended 31 December 2020 |
Year ended 31 December 2019 |
|
|---|---|---|
| Opening balance | (116,135) | (119,302) |
| Recognised | (2,349) | (3,143) |
| Utilized | 222 | 560 |
| Reversed | 6,477 | 5,750 |
| Closing balance | (111,785) | (116,135) |