Annual Report 2019

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2019 143 The United Laboratories International Holdings Limited Annual Report 2019 41. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment (Continued) The following table shows the movement in ECL that has been recognised for other receivables. 12m ECL RMB’000 As at 1 January 2018 31,988 Changes due to other receivables recognised as at 1 January 2018: Impairment losses reversed (14,823) Write-offs (17,165) Newly originated other receivables 6,411 As at 31 December 2018 6,411 Changes due to other receivables recognised as at 1 January 2019: Impairment losses reversed (6,411) Newly originated other receivables 16,417 As at 31 December 2019 16,417 Changes in the loss allowance for other receivables are mainly due to: 31/12/2019 31/12/2018 Decrease in Decrease in 12m ECL 12m ECL RMB’000 RMB’000 Newly originated other receivable balance in 2019 with gross amount of RMB823,872,000 (2018: RMB59,201,000) 16,417 6,411 Settlement in full of other receivables with a gross carrying amount of RMB59,201,000 (2018: RMB42,036,000) (6,411) (14,823) Full write-offs of other receivables with a gross carrying amount of nil (2018: RMB17,165,000) – (17,165)