GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 121 NOT ES TO THE F I NANC I A L STAT EMENTS 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D 22. CASH AND BANK BALANCES Group Company 2018 2017 2018 2017 RM RM RM RM Cash and bank balances 119,722,885 95,945,382 52,531,904 16,085,617 Deposits with licensed banks 25,419,637 11,554,563 - - 145,142,522 107,499,945 52,531,904 16,085,617 (a) At the end of the reporting period, cash and bank balances denominated in foreign currencies which are held for working capital purposes is as follows: Group Company 2018 2017 2018 2017 RM RM RM RM Ringgit Malaysia (“RM”) 119,600,282 80,063,213 43,037,229 2,658,880 Philippines Peso (“PHP”) 4,839,144 5,590,720 - - United States Dollar (“USD”) 11,826,412 13,454,970 9,469,295 12,620,549 Thai Baht (“THB”) 7,916,079 6,492,708 25,380 - Australian Dollar (“AUD”) 538,649 1,413,371 - 806,188 Singapore Dollar (“SGD”) 381,292 374,396 - - Indonesian Rupiah (“IDR”) 40,662 110,567 - - Hong Kong Dollar (“HKD”) 2 - - - 145,142,522 107,499,945 52,531,904 16,085,617 (b) The following table demonstrates the sensitivity analysis of the Group and of the Company to a reasonably possible change in the PHP, USD, THB, AUD, SGD and IDR exchange rates against the respective functional currencies of the Group entities, with all other variables held constant: Group Company 2018 2017 2018 2017 RM RM RM RM Profit after tax PHP/RM - strengthen by 10% (2017: 10%) 367,775 424,895 - - PHP/RM - weaken by 10% (2017: 10%) (367,775) (424,895) - - USD/RM - strengthen by 10% (2017: 10%) 898,807 1,022,578 719,666 959,162 USD/RM - weaken by 10% (2017: 10%) (898,807) (1,022,578) (719,666) (959,162) THB/RM - strengthen by 10% (2017: 10%) 601,622 493,446 1,929 - THB/RM - weaken by 10% (2017: 10%) (601,622) (493,446) (1,929) -