19. TRADE AND OTHER RECEIVABLES (CONTINUED) Movements in the loss allowance for trade receivables are as follows: Group 2024 2023 $’000 $’000 Balance at beginning of financial year 322 440 Liquidation of a subsidiary – (102) Currency realignment (20) (16) Balance at end of financial year 302 322 At 30 September 2024, retention sum held by customers for contract work amounted to $4,598,000 (2023: $4,789,000). Retention sum is due for settlement after more than 12 months. They have been classified as current asset because they are expected to be realised in the normal operating cycle of the Group. Movements in the loss allowance for retention sum are as follows: Group 2024 2023 $’000 $’000 Balance at beginning of financial year 3,860 4,512 Reversal of loss allowance – (424) Liquidation of a subsidiary – (157) Currency realignment (191) (71) Balance at end of financial year 3,669 3,860 Movements in the loss allowance for non-trade receivables due from a third party is as follows: Group 2024 2023 $’000 $’000 Balance at beginning and end of financial year 1,447 1,447 Loss allowance recognised in the financial year – non-credit impaired 284 – Currency realignment (11) – Balance at end of financial year 1,720 1,447 Individual analysis of impaired non-trade receivables: Group 2024 2023 $’000 $’000 Amount past due of more than 6 months and no response to repayment demands 1,720 1,447 108 KEONG HONG HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
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