(c) Factoring receivables (i) Factoring receivables breakdown before impairment: GROUP & COMPANY Sep-24 MUR m Sep-23 MUR m Receivable from customers 197.4 175.0 Fund of guarantee (69.8) (94.0) 127.6 81.0 Fund of guarantee represents the portion of the receivables from customers for which the Company has not financed. (ii) Credit quality - Factoring receivables The table below shows the credit quality and the maximum exposure to credit risk based on the Group’s internal credit rating system and year end stage classification. The amounts presented are gross of impairment allowances. Details of the Group’s internal grading system and policies on whether ECL allowances are calculated on an individual or collective basis are set out in Note 4.1 (d). GROUP AND COMPANY 2024 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m Performing 120.8 – – 120.8 Non-performing – – 6.8 6.8 120.8 – 6.8 127.6 GROUP AND COMPANY 2023 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m Performing 73.8 – – 73.8 Non-performing – – 7.2 7.2 73.8 – 7.2 81.0 (iii) Gross carrying amount - Factoring debtors An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to credit facilities is as follows: GROUP AND COMPANY 2024 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m At 1 October 2023 73.8 – 7.2 81.0 New assets originated or purchased 68.5 – – 68.5 Assets derecognised or repaid (excluding write offs) (21.5) – (0.4) (21.9) At 30 September 2024 120.8 – 6.8 127.6 GROUP AND COMPANY 2023 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m At 1 October 2022 90.1 – 7.9 98.0 New assets originated or purchased 40.8 – – 40.8 Assets derecognised or repaid (excluding write offs) (57.1) – (0.7) (57.8) At 30 September 2023 73.8 – 7.2 81.0 Explanatory Notes 30 September 2024 16. LOANS AND ADVANCES continued 174
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