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AFRICAN DAWN ANNUAL REPORT 14

Notes to the Financial Statements Group Company 2014 2013 2014 2013 R '000 R '000 R '000 R '000 34. Risk management continued The difference between the total above and total carry amount of receivables is the current portion that is not past due and not impaired. The Group holds security in the Bridging Finance segment of R30,5 million. The security values are used as part of the allowance for impairment policy. The credit risk for cash and cash equivalents and money market funds is considered negligible, since the counterparties are reputable banks with high quality external credit ratings. Credit quality of trade and other receivables (Past due and current) Past due and current gross debtors value New customers (less than 6 months) - 24,081 - - Customers more than 6 months with no defaults - 1,587 - - Customers more than 6 months with some defaults but recovered 4,724 18,671 - - Customers more than 6 months with some defaults not yet recovered 93,314 160,758 - - Other 1,135 3,718 - - 99,173 208,815 - - Impairments of receivables Opening balance 125,475 177,179 - - Provision for impairment 10,858 640 - - Amount written off as uncollectable/utilised - (48,585) - - Unused provision reversed (1,175) (3,759) - - Discontinued operations (5,036) - - - 130,122 125,475 - - Breakdown of impairments - movement Individual impairments 7,575 145 - - Collective impairments 3,283 495 - - Individual impairments reversed - (1,196) - - Collective impairments reversed (1,175) (1,421) - - Amount provided for written off as uncollectable/utilised - (49,727) - - Discontinued operations (5,036) - - - (4,647) (51,704) - - Aged impaired receivables 1 month past due 86 37 - - 2 months past due 60 55 - - 3 - 6 months past due 241 296 - - Over 6 months past due 129,735 125,087 - - 130,122 125,475 - - AFRICAN DAWN 7 2 ANNUAL REPORT 2014


AFRICAN DAWN ANNUAL REPORT 14
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