Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Trade receivables - related parties

v3.22.0.1
Trade receivables - related parties
12 Months Ended
Feb. 28, 2021
Trade And Other Receivables [Abstract]  
Trade receivables – related parties

8

Trade receivables – related parties

 

 

 

As of

February 28,

2021

 

 

As of

February 29,

2020

 

 

 

US$

 

 

US$

 

Gross trade receivables

 

 

 

 

 

3,277,086

 

Less: Impairment loss allowance of trade receivables

 

 

 

 

 

(44,276

)

Net trade receivables

 

 

 

 

 

3,232,810

 

 

Outstanding trade balances with related parties in the previous financial year were namely Antanium Resources Pte Ltd (previously known as Rhodium Resources Pte. Ltd.) and its subsidiaries and AGPL LP Interest Ltd (previously known as TAPL LP Interest Ltd), which have the same payment terms of repayment as external customers. Credit terms are generally less than 90 days. The receivables have been fully repaid during the financial year.

 

The movement in the impairment loss allowance of trade receivables during the year is as follows:

 

 

 

Non-

credit

impaired

 

 

Credit

impaired

 

 

 

US$

 

 

US$

 

As of February 28, 2019

 

 

 

 

 

 

Impairment loss recognised

 

 

44,276

 

 

 

 

As of February 29, 2020

 

 

44,276

 

 

 

 

Impairment loss reversed

 

 

(44,276

)

 

 

 

As of February 28, 2021

 

 

 

 

 

 

 

The Group’s exposure to credit and currency risks, and impairment loss allowance for these trade receivables, are disclosed in Note 25.