NOTE－4 ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:

 SCHEDULE OF ACCOUNTS RECEIVABLE, NET

The Company generally conducts its business with creditworthy third parties. The Company determines, on a continuing basis, the probable losses and an allowance for credit loss, based on several factors including internal risk ratings, customer credit quality, payment history, historical bad debt/write-off experience and forecasted economic and market conditions. Accounts receivable are written off after exhaustive collection efforts occur and the receivable is deemed uncollectible. In addition, receivable balances are monitored on an ongoing basis and its exposure to bad debts is not significant.

Movement in provision for allowance for credit losses – third parties are as follows: -

 SCHEDULE OF PROVISION FOR ALLOWANCE FOR CREDIT LOSSES

As at the end of each reporting period, the aging analysis of accounts receivable, net of provision for allowance for expected credit losses, based on due date is as follows:

SCHEDULE OF ANALYSIS OF ACCOUNTS RECEIVABLE

 
Accounts receivable, net due over 120 days are mainly due from few major customers with good payment profile and extended credit term are given. At the date of this report, approximately more than 70% of the total accounts receivable, net were recovered.