Annual Report 2025

241 2025 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 23 Accounts receivable (continued) (a) Ageing analysis Included in accounts receivable are trade receivables (net of loss allowance) with the following ageing analysis, based on the due date, as of the end of the reporting period: 2025 2024 $’000 $’000 Current 153,798 167,732 Less than 1 month past due 13,640 15,473 1 to 3 months past due 15,548 10,275 More than 3 months past due 31,516 251,193 214,502 444,673 According to the Group’s credit policy set out in note 33(a) to the consolidated financial statements, the credit period granted to customers is generally between 30 days and 90 days. Therefore, all the balances which are not past due as disclosed above are within three months from the invoice date. (b) Loss allowance for trade receivables Loss allowance in respect of trade receivables are recorded using an allowance account unless the Group is satisfied that recovery of the amount is remote, in which case the loss allowance is written off against trade receivables directly (see note 1(n)(i)). Movement in the loss allowance account in respect of trade receivables during the year: 2025 2024 $’000 $’000 Balance at 1 January 360 360 Amount written off during the year (27) – Balance at 31 December 333 360 Loss allowance for trade receivables are measured as the present value of all expected cash shortfalls (i.e. the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive) (see note 1(n)(i)). 24 Bank deposits and cash (a) Bank deposits and cash comprise: 2025 2024 $’000 $’000 Cash at banks and on hand 51,462 42,560 Bank deposits 1,729,378 1,887,394 1,780,840 1,929,954 Less: restricted bank deposits (note 24(b)) (264,525) (375,520) Bank deposits and cash in the consolidated statement of financial position 1,516,315 1,554,434 Less: bank deposits with original maturities of over three months (867,787) (915,703) Cash and cash equivalents in the consolidated cash flow statement 648,528 638,731