ENRA Group Berhad | Annual Report 2022 133 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 14. CASH AND BANK BALANCES AND SHORT TERM FUNDS Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Fixed deposits with licensed banks 6,615 15,006 2,100 2,100 Cash and bank balances 7,685 19,540 1,796 4,664 14,300 34,546 3,896 6,764 Short term funds: - Investment in money market funds in Malaysia 5,987 1,111 5,987 1,111 20,287 35,657 9,883 7,875 (a) Cash and bank balances and short term funds are financial assets where cash and bank balances are measured at amortised cost, while short term funds are measured at fair value through profit or loss. (b) Investment in money market 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 21, 22 and 23 to the financial statements. The fixed deposits of the Group and of the Company bear average interest of 1.35 % (2021: 1.55%) and 1.70% (2021: 3.61%) per annum respectively. The fixed deposits of the Group and of the Company have maturity period between one (1) month to twelve (12) months (2021: one (1) month to twelve (12) months). (d) Included in the cash and bank balances of the Group is an amount of RM1,710,000 (2021: RM165,000) 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 37 to the financial statements. (f) The currency exposure profile of cash and bank balances and short term funds are as follows: Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 16,791 29,246 9,883 7,875 US Dollar 3,492 3,992 – – Australian Dollar – 1,997 – – British Pound 4 422 – – 20,287 35,657 9,883 7,875
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