2 C apit al emplo y ed w orking capit al and o ther ins trumen ts T his sec tion pr o vides in f orma tion about the w orking capit al o f the Gr oup and k e y balanc e shee t it ems W her e r ele v an t the ac c oun ting policies tha t ha v e been applied and signif can t es tima t es and judgemen ts made is included with e ach n o t e 2a T r ade and o ther r ec eiv ables 2b R ela t ed par t y tr ans ac tions 2c In v en t ories 2d T r ade and o ther pa y ables 2e Pr oper t y plan t equipmen t 2f In v es tmen t pr oper t y 2g In t angible as se ts 2A TRADE AND O THER RE CEIV ABLES In mil lions o f A UD C onsolida t ed 2019 2018 C urr en t T r ade r ec eiv ables 2740 2514 Other r ec eiv ables 401 269 3141 2783 Aging o f tr ade r ec eiv ables In mil lions o f A UD C urr en t 1710 1597 30 da ys 632 579 60 da ys 242 187 90 da ys and o v er 221 196 To t a l 2805 2559 Al lo w anc e f or impairmen t o f tr ade r ec eiv ables Opening balanc e 45 62 AA SB 9 ad jus tmen t 34 W rit e o f f 28 64 Mo v emen t in pr o vision 14 47 Closing balanc e 65 45 T r ade r ec eiv ables ar e sho wn ne t o f al lo w anc e f or impair men t los ses o f 65 mil lion 2018 45 mil lion and ar e al l e xpec t ed t o be r ec o v er ed within 12 mon ths Impairmen t on tr ade r ec eiv ables char ged as par t o f oper a ting c os ts w as 28 mil lion 2018 64 mil lion Other r ec eiv ables includes deriv a tiv e as se ts o f 84 mil lion AA SB 9 Financial Ins trumen ts came in t o e f f ec t on 1 April 2018 and changes the clas sifca tion and me asur emen t o f fnancial ins trumen ts T he s t andar d r eplac es AA SB 139 Financial Ins trumen ts R ec ognition and Me asur emen t AA SB 9 r equir es impairmen ts t o be based on a f orw ar dlooking model T his ne w model is an e xpec t ed cr edit los s model tha t r esults in the e arlier r ec ognition o f cr edit los ses than the incurr ed los s impairmen t model under AA SB 139 T he Gr oup has initial ly adop t ed AA SB 9 on 1 April 2018 T he e f f ec t o f initial ly applying this s t andar d r esults in the incr e ase in impairmen t los ses r ec ognised on tr ade r ec eiv a bles r e f er t o no t e 7b T her e is no c onc en tr a tion o f cr edit risk with r espec t t o tr ade r ec eiv ables T her e is no single cus t omer making up a ma t e rial per c en t age o f the Gr oup s r e v enue r e f er t o no t e 4a Exposur es t o curr enc y risks r ela t ed t o tr ade and o ther r e c eiv ables ar e disclosed in no t e 4c Ac c oun ting polic y T r ade and o ther r ec eiv ables T r ade r ec eiv ables ar e r ec ognised a t the v alue o f the original in v oic e amoun t t o cus t omers les s an y impairmen t los ses amor tised c os t Es tima t es ar e used in de t ermining the le v el o f r ec eiv able tha t wil l no t be c ol lec t ed An impairmen t al lo w anc e is made f or tr ade r ec eiv able balanc es in c om plianc e with the simplifed appr oach permitt ed b y AA SB 9 b y using a pr o vision ma trix T he ma trix w as de v eloped t o r e fec t his t oric de f ault r a t es b y r egion with higher de f ault r a t es applied t o older balanc es T he appr oach is f ol lo w ed f or al l r ec eiv ables unles s ther e ar e specifc cir cums t anc es such as signifcan t fnancial dif fculties o f the cus t omer or bank rup t c y o f a cus t omer which w ould r ender the r ec eiv able irr ec o v er able and ther e f or e r equir e a specifc pr o vision A pr o vision is made agains t tr ade r ec eiv ables un til such time as the Gr oup belie v es the amoun t t o be irr ec o v er able a f t er which the tr ade r ec eiv able balanc e is writt en o f f 2B REL A TED P AR T Y TRANS A CTIONS T he r ela t ed par t y tr ans ac tions disclosed ar e tr ans ac tions with r ela t ed par ties a t the time the y w er e c onsider ed r ela t ed par ties o f the Gr oup T he ultima t e par en t o f the Gr oup is ALS Limit ed Al l r ec eiv ables and pa y ables t o and fr om r ela t ed par ties e x c ep t f or r ela t ed par t y borr o wings ar e made on t erms equiv alen t t o those tha t pr e v ail in arm s length tr ans ac tions T her e ha v e been no guar an t ees pr o vided t o an y r ela t ed par t y F or the period ended 31 M ar ch 2019 the Gr oup has no t r ec or ded an y impairmen t o f r ec eiv ables r ela ting t o amoun ts o w ed b y r ela t ed par ties 2018 nil In A UD S ales t o r ela t ed par ties Amoun ts o w ed b y r ela t ed par ties Ownership 2019 2018 ALS Ar abian C ompan y L t d 42 23099 16035 2970 ALS T echnichem M ala ysia 40 1867 2612 2031 P T ALS Indonesia 20 328 786 695 25293 19433 5697 P eriod ended 31 M ar ch 2019 55 ALS LIMITED AND IT S SUBSIDIARIES A NNU AL F INANCIAL R EPOR T F OR THE Y EAR E NDED 31 M AR CH 2019 F INANCIAL REPOR T F INANCIAL S T A TEMENT S N O TES T O THE FINANCIAL S T A TEMENT S C apit al emplo y ed w orking capit al and o ther ins trumen ts