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LOAN RECEIVABLES
 12 Months Ended
Dec. 31, 2019
LOAN RECEIVABLES  
LOAN RECEIVABLES

NOTE 5 – LOAN RECEIVABLES

 

 

 

 

 

 

 

 

USDm

    

2019

    

2018

    

2017

Loan receivables

 

  

 

  

 

  

Cost:

 

  

 

  

 

  

Balance as of 1 January

 

 —

 

 —

 

 —

Additions during the year

 

4.7

 

 —

 

 —

Balance as of 31 December

 

4.7

 

 —

 

 —

 

 

 

 

 

 

 

Expected credit loss

 

  

 

  

 

  

Balance as of 1 January

 

 —

 

 —

 

 —

Additions during the year

 

0.1

 

 —

 

 —

Balance as of 31 December

 

0.1

 

 —

 

 —

 

 

 

 

 

 

 

Carrying amount as of 31 December

 

4.6

 

 —

 

 —

 

These loans were issued as part of sale and leaseback transactions for two MR vessels. Further details are provided in note 23. The loans mature in 2026 and have an interest rate applicable, fixed at 1% per annum.