14. TRADE AND OTHER RECEIVABLES, CURRENT
The other receivables from outside parties are mainly recoverable taxes to be paid over to the vendors of the properties
acquired.
15. LOAN RECEIVABLE
The agreement for the loan receivable provides that it is unsecured, with floating interest at 0% to 3.39% (2013: 0% to
3.56%) per annum and is repayable by quarterly instalments over 20 years from 30 December 2010. The loan is carried
at amortised cost using the effective interest method. A portion of the loan receivable has no interest and thus the fair
value is not determinable. The amount is not past due.
NOTES TO THE
FINANCIAL STATEMENTS
31 DECEMBER 2014
Group
Trust
2014
2013
2014
2013
S$’000
S$’000
S$’000
S$’000
Trade receivables:
Outside parties
3,922
2,741
757
448
Less impairment allowance
(2,831)
(2,165)
–
–
Related party (Note 3)
1,391
1,350
8
8
Subtotal
2,482
1,926
765
456
Other receivables:
Subsidiaries (Note 3)
–
–
2,222
2,269
Less impairment allowance
–
–
(567)
(567)
Outside parties
6,506
22,776
24
16
Subtotal
6,506
22,776
1,679
1,718
Total trade and other receivables
8,988
24,702
2,444
2,174
Group
Trust
2014
2013
2014
2013
S$’000
S$’000
S$’000
S$’000
Movement in above allowance:
Balance at beginning of the year
(2,165)
–
(567)
–
Impairment allowance
(546)
(2,150)
–
(567)
Foreign exchange loss recognised on translation
at year end
(120)
(15)
–
–
Balance at the end of the year
(2,831)
(2,165)
(567)
(567)
Trust
2014
2013
S$’000
S$’000
Loan receivable from subsidiary:
Non-current portion
58,785
62,976
Current portion
4,191
4,191
Total
62,976
67,167
75
FIRST REIT
ANNUAL REPORT 2014
