NewWorld Development Company Limited
FINANCIAL SECTION
176
31 DEBTORS AND PREPAYMENTS
2015
2014
HK$m
HK$m
Trade debtors (note (a))
4,901.8
6,442.4
Amounts due from customers for contract work (note 34)
154.8
251.0
Retention receivable for contract work
932.0
717.6
Payment for purchase of land and land preparatory costs
5,338.2
5,019.0
Deposits, prepayments and other debtors
8,035.4
10,396.9
Amounts due from associated companies (note (f))
1,582.4
70.3
Amounts due from joint ventures (note (g))
283.3
360.9
21,227.9
23,258.1
Notes:
(a) The Group has different credit policies for different business operations depending on the requirements of the markets and
businesses in which the subsidiaries operate. Sales proceeds receivable from sale of properties and retention receivable in
respect of construction services are settled in accordance with the terms of respective contracts.
Aging analysis of trade debtors based on invoice date is as follows:
2015
2014
HK$m
HK$m
Current to 30 days
2,859.5
3,751.6
31 to 60 days
595.1
731.1
Over 60 days
1,447.2
1,959.7
4,901.8
6,442.4
There is no concentration of credit risk with respect to trade debtors as the customer bases are widely dispersed in different
sectors and industries.
(b) At 30 June 2015, trade debtors of HK$1,716.6 million (2014: HK$2,881.1 million) were past due but not impaired. These
relate to a number of independent customers for whom there is no recent history of default. The aging analysis of these
trade debtors is as follows:
2015
2014
HK$m
HK$m
Current to 30 days
767.2
1,275.2
31 to 60 days
42.5
483.6
Over 60 days
906.9
1,122.3
1,716.6
2,881.1
At 30 June 2015, trade debtors of HK$56.6 million (2014: HK$34.8 million) were impaired. The aging analysis of these
debtors is as follows:
2015
2014
HK$m
HK$m
Current to 30 days
0.9
0.7
31 to 60 days
0.6
1.0
Over 60 days
55.1
33.1
56.6
34.8
