and collection portfolios. The total trade receivables and trade contract assets and the impairment provided are as follows: Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Trade receivables 6,588.2 6,970.3 5,321.2 5,320.9 Less: Loss allowances (2,666.7) (3,002.6) (2,515.3) (2,854.8) 3,921.5 3,967.7 2,805.9 2,466.1 Trade contract assets 4,495.0 3,623.0 4,265.1 3,464.4 Less: Loss allowances (48.2) (37.0) (38.2) (34.4) 4,446.8 3,586.0 4,226.9 3,430.0 The Group and the Company have other financial assets which are lease receivables, investment in unquoted debt security and others. Given the varied nature of the Group’s and of the Company’s customer base, the following analysis of trade receivables by type of customer is considered the most appropriate disclosure of credit concentration. Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Industrial 1,477.8 1,497.4 1,465.31,489.9 Commercial 2,026.3 2,043.7 1,953.4 1,977.2 Domestic 1,979.4 1,971.9 1,830.0 1,799.6 Specific agriculture 12.3 11.0 12.3 11.0 Mining 2.5 2.9 2.5 2.9 Public lighting 61.9 44.5 57.7 40.3 Others 1,028.0 1,398.9 0 0 Trade receivables 6,588.2 6,970.3 5,321.2 5,320.9 Trade contract assets 4,495.0 3,623.0 4,265.1 3,464.4 NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 313 45 FINANCIAL INSTRUMENTS (CONTINUED) (b) Financial risk management (continued) Credit risk (continued) (i) Trade receivables and trade contract assets (continued) Impairment losses The loss allowance for the trade receivables and the trade contract assets are as follows: Gross RM’million Individual impairment RM’million Expected loss rate % Collective impairment RM’million Net RM’million 2023 Group Not past due 1,813.5 (1.8) 0.6 (10.8) 1,800.9 Past due 0-30 days 419.8 (0.2) 3.8 (16.1) 403.5 Past due 31-120 days 692.0 (4.0) 12.0 (82.4) 605.6 Past due 121-240 days 397.9 (11.6) 33.7 (130.0) 256.3 Past due 241-365 days 279.0 (38.0) 53.6 (129.2) 111.8 Past due more than 365 days 2,986.0 (1,592.9) 46.6