GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 123 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 (cont’d) (f) At the end of the reporting period, the interest rate profile of the deposits with licensed banks was: Group Company 2018 2017 2018 2017 RM RM RM RM Fixed rate 25,419,637 11,554,563 - - Sensitivity analysis for fixed rate deposits with licensed banks at the end of the reporting period is not presented as fixed rate instrument is not affected by change in interest rates. (g) No expected credit losses were recognised arising from the deposits with financial institutions because the probability of default by these financial institutions were negligible. 23. SHARE CAPITAL Group and Company 2018 2017 Number of shares RM Number of shares RM Issued and fully paid Balance as at 1 January 659,444,992 208,109,527 654,724,992 130,944,998 Issuance of ordinary shares pursuant to: - private placement 65,000,000 84,500,000 - - - acquisition of subsidiaries 13,414,941 20,793,159 - - - ESS 125,000 152,500 4,720,000 3,405,278 Resale of treasury shares - 788,374 - 934,522 Transfer pursuant to Companies Act 2016 - - - 72,824,729 Balance as at 31 December 737,984,933 314,343,560 659,444,992 208,109,527 (a) During the financial year, the issued and fully paid-up ordinary share capital of the Company was increased by way of: (i) private placement of 65,000,000 new ordinary shares of RM1.30 each; (ii) special issue of 13,414,941 new ordinary shares at RM1.19 (closing market price at date of issue: RM1.55) per ordinary share pertaining to the Share Subscription Agreement (“SSA”) with Paysys Group Holdings Sdn. Bhd. and Rica Holdings (M) Sdn. Bhd. as part consideration paid for the acquisition of Paysys (M) Sdn. Bhd. and related acquisition expenses and general working capital purposes; and (iii) issuance of 125,000 (2017: 4,720,000) new ordinary shares for cash pursuant to the exercise of ESS. (b) Repurchased shares were held as treasury shares in accordance with the requirement of Section 127 of the Companies Act 2016 in Malaysia.