Annual Report 2019

204 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED Notes to the Consolidated Financial Statements For the year ended 31 December 2019 27. DEBTORS, DEPOSITS AND PREPAYMENTS (CONTINUED) Notes: (continued) (c) As at 1 January 2018, trade debtors from contracts with customers amounted to HK$1,094 million. The Group has a credit policy of allowing an average credit period of 90 days (2018: 90 days) to its trade debtors. The ageing analysis of trade debtors, based on the invoice date, net of allowance for credit losses of trade debtors, is as follows: 2019 2018 HK$’million HK$’million 0 - 90 days 852 938 91 - 180 days 42 48 181 - 365 days 14 15 Over 365 days 10 10 918 1,011 (d) As at 31 December 2019, trade debtors of HK$667 million (2018: HK$715 million) and balances with related companies of HK$644 million (2018: HK$1,647 million) are neither past due nor impaired and are fully performing. (e) As at 31 December 2019, included in the Group’s trade debtors balance are debtors with aggregate carrying amount (before any allowance for credit losses) of HK$336 million (2018: HK$345 million) which are past due as at the reporting date. Out of the past due balances, HK$52 million (2018: HK$43 million) has been past due 90 days or more and is not considered as in default as these are related to a number of independent customers for whom there is no significant financial difficulty and based on past experience, the overdue amounts can be recovered. (f) The amounts are unsecured, interest-free and expected to be repayable within twelve months from the end of the reporting period. (g) The balances are unsecured, interest-free and repayable on demand. (h) The related party is an associate of CMG. The amount at 31 December 2018 was interest-bearing at floating interest rate, repayable within twelve months from the end of the reporting period and secured by the equity interest in an associate of the Group held by the controlling shareholder of the associate. The full amount has been settled during the year. 28. CASH AND BANK BALANCES 2019 2018 HK$’million HK$’million Cash at bank and in hand 4,991 4,750 Short-term time and other deposits (Note (a)) 1,948 488 6,939 5,238 Other deposits (Note (b)) 861 793 Restricted bank balance (Note (c)) — 1,144 7,800 7,175