The American Club 2021/2022 Annual Report

PAGE 80 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2022

7. DUE FROM MEMBERS (cont’d)

Loss allowance for due from members has been measured at an amount equal to lifetime expected credit losses (ECL). The ECL on due from members are estimated using a provision matrix by reference to past default experience of the member and an analysis of the member’s current financial position, adjusted for factors that are specific to the members. There has been no change in the estimation techniques or significant assumptions made during the current reporting period. Amount due from members are written off when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery. The following table details the risk profile of amount due from members based on the Club’s provision matrix. As the Club’s historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance based on past due status is not further distinguished between the Club’s different customer base.

Due from members - past due date

Not past due

< 30 days

31 - 90 days

91 - 180 days

> 180 days

Total

$

$

$

$

$

$

2022

Expected credit loss rate

11% 41% 87% 100%

Estimated total gross carrying amount at default

2,162,444 231,679 61,179 32,607 25,234 2,513,143

Lifetime ECL

(9,135)

(25,870) (25,047) (28,422) (25,234) (113,708)

2,153,309

205,809

36,132

4,185

- 2,399,435

2021

Expected credit loss rate

2%

7% 58% 100%

Estimated total gross carrying amount at default

1,573,320 156,387

66,930 12,912

32,678 1,842,227

Lifetime ECL

(2,169)

(2,391)

(4,878)

(7,597) (32,678) (49,713)

1,571,151

153,996 62,052

5,315

-

1,792,514