CAHYA MATA SARAWAK ANNUAL REPORT 2016

www.cmsb .com.my Cahya Mata Sarawak Berhad 164 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 29. CASH AND BANK BALANCES Group Company 2016 2015 2016 2015 RM’000 RM’000 RM’000 RM’000 Cash in hand and at banks 61,041 73,762 181 10,074 Short-term deposits with licensed banks 68,287 7,003 63,206 2,505 Wholesale fund 327,742 244,302 327,742 244,302 Total cash and bank balances 457,070 325,067 391,129 256,881 (a) In the previous financial year, included in cash at banks was RM9,441,334 money held in trust by nominee companies under investment agreements with licensed fund managers. (b) Short-term deposits are made for varying periods of between one day and three months depending on the immediate cash requirements of the Group and the Company, and earn interest at the respective short-term deposit rates. The weighted average effective interest rates as at 31 December 2016 for the Group and the Company were 4.17% (2015: 2.96%) and 4.31% (2015: 3.64%), respectively. As at 31 December 2016, included in short-termdeposits with licensed banks of the Group and the Company is an amount of RM10,000,000 (2015: Nil) being deposits placed with an associate. Short-term deposits of the Group and the Company amounting to RM1,996,636 (2015: RM2,064,391) and RM210,000 (2015: RM210,000), respectively, have been pledged as security for banking facilities. For the purpose of the statements of cash flows, cash and cash equivalents comprised the following at the reporting date: Group Company 2016 2015 2016 2015 RM’000 RM’000 RM’000 RM’000 Cash and short-term deposits 457,070 325,067 391,129 256,881 Less: Deposits pledged to licensed banks (1,997) (2,064) (210) (210) Cash and cash equivalents 455,073 323,003 390,919 256,671