12 Interest Receivable and other Assets

Interest receivable and other assets

  2017   2016
AED’000   AED’000
 
Accounts receivable 44,400 20,960
Less impairment (i)

(6,194)

(6,194)

38,206 14,766
Insurance receivables (ii) 55,609 44,119
Interest receivable and profit receivable 33,167 26,575
Prepayments 27,871 20,921
Re-insurance contract assets 11,727 16,728
Advance for investments 4,302 302
Amounts due from customers under construction contracts 2,028
Other assets (iii) 37,318 18,695
208,200
144,137

i. No impairment charge or impairment reversals recognized at the end of the reporting periods ended 31 December 2017 and 2016 respectively.

ii. Insurance receivables do not contain any impaired balances.

iii.During the year the Company has entered into a sale and purchase agreement to sell an asset classified as held for sale at a price of AED 21,600 thousand and as a result of this transaction ‘other assets’ include a receivable from this transaction as at 31 December 2017 of AED 19,500 thousand (2016: AED Nil).

As at 31 December, the ageing analysis of accounts receivable is as follows:

  Past due but not impaired
  Total   Neither past due nor impaired   < 30 days   30 – 60 days   61 – 90 days   >90 days
AED AED AED AED AED AED
2017

38,206

 

34,421

 

 

 

 

3,785

2016

14,766

10,758

222

1

3,785