- 20 - 8. TRADE RECEIVABLES Trade receivables as at December 31, consist of the following: Unit : Million Baht Consolidated financial statements Separate financial statements Note 2021 2020 2021 2020 Trade receivables - Other parties 8,868 6,016 8,641 5,868 - Related parties 37 (b) 4,947 3,640 5,198 3,865 Total 13,815 9,656 13,839 9,733 Less Allowance for expected credit losses (30) (30) (24) (22) Total trade receivables 13,785 9,626 13,815 9,711 Aging analysis of trade receivables is as follows: Unit : Million Baht Consolidated financial statements Separate financial statements Note 2021 2020 2021 2020 Other parties Current 7,533 5,272 7,319 5,137 Overdue - less than 3 months 1,303 714 1,297 708 - over 3 months but less than 6 months 3 - 3 1 - over 6 months but less than 12 months 1 2 - - - over 12 months 28 28 22 22 1,335 744 1,322 731 8,868 6,016 8,641 5,868 Less Allowance for expected credit losses (30) (30) (24) (22) Total trade receivables from other parties 8,838 5,986 8,617 5,846 Related parties Current 4,911 3,628 5,172 3,838 Overdue - less than 3 months 22 12 11 27 - over 3 months but less than 6 months 9 - 10 - - over 6 months but less than 12 months 5 - 5 - - over than 12 months - - - - 36 12 26 27 Total trade receivables from related parties 37 (b) 4,947 3,640 5,198 3,865 Total trade receivables 13,785 9,626 13,815 9,711 Normal credit term of trade receivables is determined at 7 days to 120 days. The Group always measures the loss allowance for trade receivables at an amount equal to lifetime ECL. The expected credit losses on trade receivables are estimated using a provision matrix by reference to past default experience of the debtor and an analysis of the debtor’s current financial position. In case, the Group measures the loss allowance to Simplified ECL. The Group has recognised a loss allowance of 100% against all receivables over 180 days past due because historical experience has indicated that these receivables are generally not recoverable. 322 IRPC PUBLIC COMPANY LIMITED 56-1 ONE REPORT 2021
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