Annual Report 2021

CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED 158 Notes to the Consolidated Financial Statements For the year ended 31 December 2021 25. DEBTORS, DEPOSITS AND PREPAYMENTS (CONTINUED) Notes: (continued) (c) The Group has a credit policy of allowing an average credit period of 90 days (2020: 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: 2021 2020 HK$’million HK$’million 0 - 90 days 904 996 91 - 180 days 61 8 181 - 365 days 39 4 Over 365 days 19 10 1,023 1,018 (d) As at 31 December 2021, trade debtors of HK$683 million (2020: HK$910 million) are neither past due nor impaired and are fully performing. (e) As at 31 December 2021, included in the Group’s trade debtors balance are debtors with aggregate carrying amount (before any allowance for credit losses) of HK$399 million (2020: HK$163 million) which are past due as at the reporting date. Out of the past due balances, HK$92 million (2020: HK$20 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 in accordance with the credit term. (g) The balances are unsecured, interest-free and repayable in accordance with the credit term. (h) As at 31 December 2021, the amounts due from related parties and dividend receivables, in aggregate, of HK$367 million (2020: HK$406 million) are neither past due nor impaired and are fully performing. (i) Included in the amount as at 31 December 2020 was an indemnification receivable from the holding companies of a non-controlling shareholder of a subsidiary amounting to HK$239 million and the compensation receivable from SLRC for the resumption of land parcels at Shantou amounting to HK$3,258 million. During the year ended 31 December 2021, the remaining balance of the indemnification receivable was fully impaired, and a supplement agreement was entered into with SLRC for the settlement of the compensation receivable, which was scheduled to be completed after 12 months from 31 December 2021. As such, the amount of HK$3,297 million as at 31 December 2021 was reclassified as non-current asset and included in other financial assets. 26. CASH AND BANK BALANCES 2021 2020 HK$’million HK$’million Cash at bank and in hand 7,314 7,167 Short-term time and other deposits (Note (a)) 2,660 4,050 Cash and cash equivalents 9,974 11,217 Other deposits (Note (b)) 6 73 9,980 11,290 Notes: (a) The weighted average effective interest rate on the balances as at the end of the reporting period is approximately 0.93% (2020: 0.99%) per annum. These deposits can be readily convertible to cash before maturity. (b) The weighted average effective interest rate on the balances as at 31 December 2020 was approximately 3.61% per annum. These deposits are not convertible to cash until maturity.