(11.6) 35.7 (112.1) 202.3 Past due 241-365 days 230.5 (37.9) 59.2 (114.0) 78.6 Past due more than 365 days 2,483.0 (1,587.0) 62.8 (556.8) 339.2 Trade receivables 5,321.2 (1,642.0) (873.3) 2,805.9 Trade contract assets 4,265.1 (0.8) 0.9 (37.4) 4,226.9 NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 314 45 FINANCIAL INSTRUMENTS (CONTINUED) (b) Financial risk management (continued) Credit risk (continued) (i) Trade receivables and trade contract assets (continued) Impairment losses (continued) The loss allowance for the trade receivables and the trade contract assets are as follows: (continued) Gross RM’million Individual impairment RM’million Expected loss rate % Collective impairment RM’million Net RM’million 2022 Group Not past due 1,646.4 (22.1) 0.6 (9.2) 1,615.1 Past due 0-30 days 398.5 (1.1) 4.3 (16.9) 380.5 Past due 31-120days 858.8 (69.9) 10.3 (81.4) 707.5 Past due 121-240 days 713.9 (102.7) 31.0 (189.5) 421.7 Past due 241-365 days 408.2 (93.8) 54.6 (171.8) 142.6 Past due more than 365 days 2,944.5 (1,615.4) 47.3 (628.8) 700.3 Trade receivables 6,970.3 (1,905.0) (1,097.6) 3,967.7 Trade contract assets 3,623.0 (3.9) 0.9 (33.1) 3,586.0 Company Not past due 1,198.1 (21.0) 0.5 (5.6) 1,171.5 Past due 0-30 days 279.2 (1.1) 5.1 (14.1) 264.0 Past due 31-120 days 655.7 (69.8) 12.3 (72.1) 513.8 Past due 121-240 days 555.7 (102.7) 37.5 (169.9) 283.1 Past due 241-365 days 319.2 (93.8) 67.9 (153.0) 72.4 Past due more than 365 days 2,313.0 (1,609.6) 77.1 (542.1) 161.3 Trade receivables 5,320.9 (1,898.0) (956.8) 2,466.1 Trade contract assets 3,464.4 (3.9) 0.9 (30.5) 3,430.0 The Group and the Company apply MFRS 9 simplified approach to measure expected credit losses which uses a lifetime expected loss allowance for all trade receivables and trade contract assets. For certain large customers with high risk of default, the Group and the Company assessed the risk of loss for each customer individually based on their financial information, past trend of payments and