Excel Force MSC Berhad Annual Report 2016

EXCEL FORCE MSC BERHAD ANNUAL REPORT 2016 84 Notes to the Financial Statements 31 December 2016 (cont’d) 14. CASH AND BANK BALANCES AND SHORT TERM FUNDS (cont’d) (a) Investment in fixed income trust funds inMalaysia represents investments in highly liquidmoneymarket 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 32 to the financial statements. (c) The currency exposure profile of cash and bank balances is as follows: Group Company 2016 2015 2016 2015 RM RM RM RM Ringgit Malaysia 22,807,122 19,273,956 22,693,508 18,155,323 Singapore Dollar 4,465 8,328 4,465 8,328 United States Dollar 517,375 419,542 517,375 419,542 23,328,962 19,701,826 23,215,348 18,583,193 (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 0.15% to 5.32% (2015: 0.22% to 3.53%). (e) Deposits of the Group and the Company have an average maturity period of 30 days (2015: 30 days). Bank balances are deposits held at call with banks. 15. SHARE CAPITAL Group and Company 2016 2015 Number Number of shares RM of shares RM Ordinary shares of RM0.10 each Authorised: Balance as at 1 January/ 31 December 500,000,000 50,000,000 500,000,000 50,000,000 Issued and fully paid: Balance as at 1 January 206,768,100 20,676,810 206,768,100 20,676,810 Issued during the financial year 97,875 9,787 - - Balance as at 31 December 206,865,975 20,686,597 206,768,100 20,676,810 (a) During the financial year, the issued and paid up share capital of the Company was increased from RM20,676,810 to RM20,686,597 by way of issuance of 97,875 ordinary shares of RM0.10 each pursuant to the exercise of warrants at an exercise price of RM0.68 per ordinary share for cash. 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.