MSM Malaysia Holdings Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 28 CASH AND CASH EQUIVALENTS (CONTINUED) The fixed deposits, cash and bank balances are denominated as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 151,404 180,369 34,353 116,398 US Dollar 19,037 10,462 - - AE Dirham 95 732 - - 170,536 191,563 34,353 116,398 Credit rating profiles of banks in which the fixed deposits have been placed are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 AAA 138,049 144,709 24,590 111,873 AA 3 5,603 4,077 4,692 3,198 143,652 148,786 29,282 115,071 AAA - A financial institution rated AAA has a superior capacity to meet its financial obligations. This is the highest long- term financial institution rated assigned by RAM Ratings. AA - A financial institution rated AA has a strong capacity to meet its financial obligations. The financial institution is resilient against adverse changes in circumstances, economic conditions and/or operating environments. A - A financial institution rated A has an adequate capacity to meet its financial obligations. The financial institution is more susceptible to adverse changes in circumstances, economic conditions and/or operating environments than those in higher-rated categories. For long-term ratings, RAM Ratings applies subscripts 1, 2 or 3 in each rating category from AA to C. The subscripts 1 indicates that the financial institution ranks at the higher end of its generic rating category; the subscript 2 indicates a mid-ranking; and the subscripts 3 indicates that the financial institution ranks at the lower end of its generic rating category. MSM Malaysia Holdings Berhad | Annual Report 2019 196