Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HK Listco Ltd
Financial statements for the year ended 31 December 2023
HKFRS 7.35B(b)
& 35H
Movement in the loss allowance account in respect of trade receivables and contract assets during the
year is as follows:
Balance at 1 January 2022
South East
Rest of the
Hong Kong
$'000
Asia
world
Total
$'000
$'000
$'000
1,378
280
2,060
3,718
Amounts written off
(713)
(107)
(830)
(1,650)
HKFRS 15.113(b)
Impairment losses recognised
Impairment losses reversed
1,595
325
1,868
3,788
(665)
(173)
(1,230)
(2,068)
Balance at 31 December 2022
1,595
325
1,868
3,788
Balance at 1 January 2023
Amounts written off
HKFRS 15.113(b)
Impairment losses recognised
Impairment losses reversed
HKFRS 7.351 & B8D
HKFRS 7.35K
Balance at 31 December 2023
1,595
325
1,868
3,788
(871)
(399)
(978)
(2,248)
2,244
382
1,400
4,026
(724)
(112)
(890)
(1,726)
2,244
196
1,400
3,840
The following significant changes in the gross carrying amounts of trade receivables and contract assets
contributed to the increase in the loss allowance:
origination of new trade receivables net of those settled resulted in an increase in loss allowance of
$[•] (2022: $[•]);
increase in days past due over 30 days resulted in an increase in loss allowance of $[•] (2022: $[•]);
and
a write-off of trade receivables with a gross carrying amount of $[•] (2022: $[•]) resulted in a
decrease in loss allowance of $2,248,000 (2022: $1,650,000).
Credit risk arising from loans to associates
The loans to associates are fully secured by properties held by the associates. The maximum exposure
to credit risk in respect of the loans at the end of the reporting period, without taking into account the
collateral, and the key terms of the loans are disclosed in note 17. The group considers that the credit
risk arising from the loans is significantly mitigated by the properties held as collateral, with reference
to the estimated market value of the properties at 31 December 2023 which gave rise to a headroom of
$[•] over the gross carrying amount of the loans (2022: a headroom of $[•]).
172
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