MKH Annual Report 2020

187 MKH BERHAD 25. CASH, BANK BALANCES, TERM DEPOSITS AND FIXED INCOME FUNDS (CONT’D) Cash and cash equivalents held by the Group which are not freely available for general use are as follows: (i) deposits amounting to RMNil (2019: RM2,000,000) pledged for bank guarantee facilities granted to a subsidiary; (ii) bank balances of RM13,914,674 (2019: RM13,649,248) pledged as restricted fund held as security for the credit facilities as disclosed in Note 32; and (iii) deposit and bank balances of RM36,209 (2019: RM33,614) held under sinking fund account for the recreational club. 26. NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE The Group 2020 RM 2019 RM At cost: At beginning of year 1,543,550 - Transfer from land held for property development (Note 18) 2,990,405 1,543,550 At end of year 4,533,955 1,543,550 This was in respect of the following sales and purchase agreements entered into between subsidiaries and third parties for the disposal of freehold and leasehold land held under land held for property development: 2020: (i) on 21 August 2020 for the disposal of two (2) parcels of freehold land located at Kajang Semenyih for a cash consideration of RM4,000,000; and (ii) on 29 September 2020 for the disposal of two (2) parcels freehold land located at Ulu Langat to a director and a key management of the Group for a cash consideration of RM3,617,000. 2019: (i) on 3 December 2018 for the disposal of a piece of leasehold land located at Hillpark Shah Alam for a cash consideration of RM298,427; and (ii) on 3 December 2018 for the disposal of a piece of leasehold land located at Hillpark Shah Alam for a cash consideration of RM1,441,996. The disposals process of leasehold lands located at Hillpark Shah Alam as mentioned above was delayed due to COVID-19. However, the disposal is expected to complete within the next 12 months. Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2020