Excel Force MSC Berhad Annual Report 2015

NOTES TO THE FINANCIAL STATEMENTS 31 December 2015 (cont’d) E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 82 14. CASH AND BANK BALANCES AND SHORT TERM FUNDS (continued) (a) Investment in fixed income trust funds in Malaysia represents investments in highly liquid money market instruments, which are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. (b) Information on financial risks of cash and bank balances is disclosed in Note 33 to the financial statements. (c) The currency exposure profile of cash and bank balances is as follows: Group Company 2015 2014 2015 2014 RM RM RM RM Ringgit Malaysia 19,273,956 20,230,248 18,155,323 19,238,876 Singapore Dollar 8,328 14,606 8,328 14,606 New Taiwan Dollar - 2,549 - 2,549 United States Dollar 419,542 299,708 419,542 299,708 19,701,826 20,547,111 18,583,193 19,555,739 (d) The annual interest rates for short term funds and deposits with licensed banks of the Group and the Company that were effective at the end of the reporting period were 0.22% to 3.53% (2014: 0.45% to 3.88%). (e) Deposits of the Group and the Company have an average maturity period of 30 days (2014: 30 days). Bank balances are deposits held at call with banks. 15. SHARE CAPITAL Group and Company 2015 2014 Number of shares RM Number of shares RM Ordinary shares of RM0.10 each Authorised: Balance as at 1 January 500,000,000 50,000,000 250,000,000 25,000,000 Created during the year - - 250,000,000 25,000,000 Balance as at 31 December 500,000,000 50,000,000 500,000,000 50,000,000 Issued and fully paid: Balance as at 1 January/31 December 206,768,100 20,676,810 206,768,100 20,676,810 (a) During the previous financial year, the Company increased its authorised share capital from RM25,000,000 comprising 250,000,000 ordinary shares of RM0.10 each to RM50,000,000 comprising 500,000,000 ordinary shares of RM0.10 each by the creation of an additional 250,000,000 ordinary shares of RM0.10 each. The owners of the parent are entitled to receive dividend as and when declared by the Company and are entitled to one (1) vote per ordinary share at meetings of the Company. All ordinary shares rank pari passu with regard to the Company’s residual assets.