141 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 22. CASH AND BANK BALANCES Group Company 2021 2020 2021 2020 RM RM RM RM Cash and bank balances 163,609,412 135,504,861 2,598,160 5,466,566 Deposits with licensed banks 16,502,668 13,389,060 1,959,355 - 180,112,080 148,893,921 4,557,515 5,466,566 (a) Cash and bank balances and deposits with licensed banks are classified as financial assets measured at amortised cost. (b) The weighted average effective interest rate of deposits with licensed banks of the Group is ranging between 1.21% to 1.80% (2020: 2.39% to 3.65%) per annum. The average maturity days are ranging from 30 days to 365 days (2020: 180 days to 310 days) per annum. (c) Included in the deposits of the Group and of the Company are RM15,647,164 (2020: RM12,595,916) and RM1,959,355 (2020: RM Nil) respectively pledged to licensed banks as securities for credit facilities granted to one (1) subsidiary as disclosed in Notes 25 and 30 to the financial statements. (d) At the end of the reporting period, the interest rate profile of the deposits with licensed banks was: Group Company 2021 2020 2021 2020 RM RM RM RM Fixed rate 16,502,668 13,389,060 1,959,355 - 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. (e) 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 2021 2020 2021 2020 RM RM RM RM Ringgit Malaysia (“RM”) 127,235,606 98,042,097 4,366,367 4,464,532 Philippines Peso (“PHP”) 38,759,338 32,381,361 - - United States Dollar (“USD”) 2,896,356 4,235,735 166,212 975,209 Thai Baht (“THB”) 8,243,847 12,398,282 24,936 26,825 Australian Dollar (“AUD”) 2,407,638 1,135,370 - - Singapore Dollar (“SGD”) 289,652 470,139 - - Indonesian Rupiah (“IDR”) 102,853 217,928 - - Hong Kong Dollar (“HKD”) 176,790 13,009 - - 180,112,080 148,893,921 4,557,515 5,466,566
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