176
AirAsia X Berhad • Annual Report 2014
NOTES TO THE FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2014
30 FINANCIAL INSTRUMENTS (CONTINUED)
(b)
Credit quality of financial assets
The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings (if available) or to historical information about
counterparty default rates:
Group
2014
RM’000
2013
RM’000
Counterparties without external credit rating
Group 1
12,746
4,006
Group 2
18,307
20,296
Total trade receivables that are neither past due nor impaired
31,053
24,302
Cash at bank and short term deposits
AAA
12,159
15,822
AA2
4,960
-
AA3
47,280
185,905
A2
14,504
14,793
A3
47,706
45,691
126,609
262,211
Derivative financial assets
AA+ to A+
-
519
A to BBB-
-
65,410
-
65,929
Group 1 – New customers/related parties (Less than 6 months)
Group 2 – Existing customers/related parties (more than 6 months) with no defaults in the past.
Group 3 – Existing customers/related parties (more than 6 months) with some defaults in the past.
All defaults were fully recovered.
All other receivables and deposits are substantially with existing counterparties with no history of default.
