88 EXCEL FORCE MSC BERHAD Notes to the Financial Statements (cont’d) 14. DEPOSITS, CASH AND BANK BALANCES AND SHORT-TERM FUNDS (CONT’D) (a) Investments in fixed income trust funds in Malaysia represents investments in high 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) The effective interest rates for short-term funds and deposits with licensed banks of the Group and of the Company at the end of the reporting period range from 0.15% to 2.72% (2020: 0.12% to 7.56%) per annum. (c) Deposits of the Group and of the Company have an average maturity period of 30 days (2020: 30 days). Bank balances are deposits held at call with banks. 15. SHARE CAPITAL Group and Company Number of shares Amount 2021 2020 2021 2020 Units Units RM RM Issued and fully paid ordinary shares At 1 January 615,378,375 615,378,375 89,303,150 89,303,150 Cancellation of treasury shares during the financial year (56,000,000) - (8,126,670) - At 31 December 559,378,375 615,378,375 81,176,480 89,303,150 The holders of ordinary shares are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regards to the Company’s residual assets. In respect of the Company’s treasury shares that are held by the Company, all rights are suspended until those shares are reissued. During the financial year, the Company cancelled 56,000,000 units treasury shares. Accordingly, the number of issued and fully paid ordinary shares at the reporting date is 559,378,375. 16. RESERVES Group Company 2021 2020 2021 2020 Note RM RM RM RM Non-distributable Fair value reserve (a) 4,318,133 (688,440) 4,318,133 (688,440) Other reserve (b) (80,745) (80,745) - - Distributable Retained earnings (c) 15,711,091 31,886,191 15,935,314 31,278,024 19,948,479 31,117,006 20,253,447 30,589,584
RkJQdWJsaXNoZXIy NDgzMzc=