History
My Annual Report
Trade and Other Receivables
In thousands of Kazakhstani Tenge | 31 December 2012 |
31 December 2011 |
---|---|---|
Trade and other receivables from dealers and distributors | 7,406,783 | 5,324,152 |
Trade receivables from subscribers | 2,396,607 | 1,989,370 |
Trade receivables for interconnect services | 1,884,047 | 1,789,144 |
Trade receivables from roaming operators | 558,486 | 540,696 |
Less: provision for impairment of trade receivables | (976,315) | (669,224) |
Total financial assets | 11,269,608 | 8,974,138 |
Advances to suppliers | 1,067,051 | 3,380,910 |
VAT recoverable (net) | 867,166 | 278,895 |
Prepaid other taxes | 514,644 | 1,023,630 |
Deferred expenses | 162,068 | 356,410 |
Other receivables | 483,509 | 18,438 |
Total trade and other receivables | 14,364,046 | 14,032,421 |
The Group classifies its accounts receivable into four classes: trade and other receivables from dealers and distributors, trade receivables from subscribers, trade receivables from roaming operators and trade receivables for interconnect services.
Trade and other receivables are denominated in currencies as follows:
In thousands of Kazakhstani Tenge | 31 December 2012 | 31 December 2011 |
---|---|---|
Tenge | 10,711,122 | 8,433,442 |
US dollar | 558,486 | 540,696 |
Total financial assets | 11,269,608 | 8,974,138 |
Provision for impairment of trade receivables relates to trade receivables from subscribers and distributors. The ageing analysis of trade receivables is as follows:
In thousands of Kazakhstani Tenge | 31 December 2012 |
31 December 2011 |
|
---|---|---|---|
Total neither past due nor impaired | 10,110,622 | 8,374,523 | |
Past due but not impaired | |||
due for 1 month | 269,526 | 224,326 | |
due for 2 months | 134,853 | 127,137 | |
due for 3 months | 184,394 | 100,439 | |
due for 4 to 6 months | 148,045 | 73,172 | |
due for more than 6 months | 422,168 | 74,541 | |
Total past due but not impaired | 1,158,986 | 599,615 | |
Impaired | |||
30 to 60 days | 6,440 | 6,692 | |
60 to 90 days | 15,133 | 11,160 | |
90 to 120 days | 21,254 | 6,483 | |
120 to 150 days | 16,719 | 12,913 | |
150 to 200 days | 32,698 | 14,849 | |
over 200 days | 884,071 | 617,127 | |
Total impaired | 976,315 | 669,224 | |
Provision for impairment of trade receivables | (976,315) | (669,224) | |
Total financial assets | 11,269,608 | 8,974,138 |
The main factors which the Group takes into account when considering the issue on impairment of receivables are their past due status and collectability. As a result, the Group presented the above aging analysis of receivables. Impairment of receivables was assessed based on past due status of such receivables.
Neither past due nor impaired receivables represent receivables from companies and subscribers with no credit ratings assigned but their reliability is determined by the Company on the basis of long-term cooperation representing those companies which have a good credit history. The Company’s management believes that neither past due nor impaired receivables in the amount of Tenge 10,110,622 thousand will be fully repaid in 2013.
Reconciliation of movements in the financial assets impairment provisions:
In thousands of Kazakhstani Tenge | |
---|---|
At 31 December 2010 | 752,338 |
Charge for the year | 268,785 |
Receivables written off during the year as uncollectible | (351,899) |
At 31 December 2011 | 669,224 |
Charge for the year | 440,768 |
Receivables written off during the year as uncollectible | (133,677) |
At 31 December 2012 | 976,315 |