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Annual Report 2020
188
Notes to the Financial Statements
As at 31 March 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
21. Biological assets
Group
2020
RM’000
2019
RM’000
At 1 April 2019/2018
4,504
5,102
Fair value changes recognised in profit or loss
2,705
(744)
Exchange differences
(344)
146
At 31 March
6,865
4,504
The fair value of biological assets was based on the actual quantity of fresh fruit bunches (“FFB”) for 2 weeks period and
the observable current market price of FFB at each point of fair value.
Sensitivity analysis
A 10% increase/decrease in the average FFB selling price (RM/MT) would result in the following to the fair value change
of the biological asset:
Group
2020
RM’000
2019
RM’000
10% increase
442
230
10% decrease
(442)
(230)
22. Trade receivables
Group
Company
2020
RM’000
2019
RM’000
2020
RM’000
2019
RM’000
Third parties
143,461
135,019
12
10
Less: Allowance for impairment
(2,906)
(5,860)
(10)
(10)
Trade receivables, net
140,555
129,159
2
-
The Group’s normal trade credit term ranges from 30 to 90 days (2019: from 30 to 90 days). Other credit terms are
assessed and approved on a case-by-case basis.
The Group has no significant concentration of credit risk that may arise from exposures to a single debtor or to group of
debtors except for a balance of RM60,806,000 (2019: RM41,827,000) due from the Government of Malaysia.