NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
20
TRADE AND OTHER RECEIVABLES
2016
HK$'000
2015
HK$'000
Trade receivables
332,960
151,041
Less: allowance for doubtful debts
(2,151)
(2,070)
330,809
148,971
Cash held by stakeholders
Other receivables and prepayments
Amount due from a joint venture
457,828
18,078
64,720
46,441
412
853,769
213,490
All of the trade and other receivables except for instalment receivables of HK$219,596,000 (2015: HK$88,643,000) are expected to be recovered or recognised as expense within one year. Included in the trade and other receivables are amounts due from related companies of HK$72,405,000 (2015: HK$37,111,000) which are unsecured, interest-free and have no fixed terms of
repayment.
The amount due from a joint venture is unsecured, interest-bearing at a rate to be agreed by the Group and the joint venture partner and have no fixed terms of repayment. During the year and as at 31 December 2016, the balance did not bear any
interest.
(a)
Ageing analysis
Included in trade and other receivables are trade debtors (net of allowance for doubtful debts) with the following ageing analysis based on due date at the end of the reporting period:
2016
2015
HK$'000
HK$'000
Current
289,963
125,133
1 to 3 months overdue
32,303
19,566
More than 3 months but less than 12 months overdue
8,320
4,265
More than 12 months overdue
223
7
330,809
148,971
Trade debtors are due ranging from 7 to 45 days from the date of billing. Debtors with balances that are more than 60 days overdue are generally required to settle all outstanding balances before any further credit is granted. Further details on the Group's credit policy are set out in note 26(a).
Hong Kong Ferry (Holdings) Company Limited
120 Annual Report 2016
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