ENRA Group Berhad Annual Report 2021

FINANCIAL STATEMENTS & OTHERS ENRA Group Berhad | Annual Report 2021 144 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2021 16. CASH AND BANK BALANCES AND SHORT TERM FUNDS Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Fixed deposits with licensed banks 15,006 12,326 2,100 2,100 Cash and bank balances 19,540 17,340 4,664 5,044 34,546 29,666 6,764 7,144 Short term funds - Investment in fixed income trust funds in Malaysia 1,111 23,947 1,111 23,154 35,657 53,613 7,875 30,298 (a) Cash and bank balances and short term funds are classified as financial assets. Cash and bank balances are measured at amortised cost, while short term funds are measured at fair value through profit or loss respectively. (b) Investment in fixed income trust funds in Malaysia represent 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 and hence, meet the definition to be classified as cash and cash equivalents. (c) Certain deposits with licensed banks are pledged to licensed banks as security for credit facilities granted to the Group and the Company as set out in Notes 23, 24 and 25 to the financial statements. The fixed deposits of the Group and of the Company bear average interest of 1.55% (2020: 2.33%) and 3.61% (2020: 3.07%) per annum respectively. The fixed deposits of the Group and of the Company have maturity period between one (1) month to twelve (12) months (2020: one (1) month to twelve (12) months). (d) Included in the cash and bank balances of the Group is an amount of RM165,000 (2020: RM Nil) held under the Housing Development Accounts (Control and Licensing) Amendment Act, 2015. (e) Information on financial risks of cash and bank balances and short term funds is disclosed in Note 40 to the financial statements (f) The currency exposure profile of cash and bank balances and short term funds are as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 29,246 50,364 7,875 30,298 US Dollar 3,992 479 – – Australian Dollar 1,997 1,313 – – British Pound 422 1,435 – – Singapore Dollar – 22 – – 35,657 53,613 7,875 30,298