AL-SALAM REIT ANNUAL REPORT 2017

AL-SALĀM REIT ANNUAL REPORT 2017 151 14. CASH AND CASH EQUIVALENTS Cash and cash equivalents included in the statement of cash flows comprise the following items: 2017 2016 RM RM Deposits with licensed banks 32,415,000 41,085,000 Cash and bank balances 12,651,281 6,355,659 45,066,281 47,440,659 Less: Pledged deposits with licensed banks (9,915,000) (9,585,000) 35,151,281 37,855,659 Deposits with licensed banks earn profit at rates ranging from 2.55% to 3.40% (2016: 2.95% to 4.10%) per annum and have maturity periods of 4 days to 3 months (2016: 1 to 3 months). The deposits with licensed banks are placed as reserve for repayment of finance costs on long-term Islamic financing and hence, are not available for general use. 15. OTHER PAYABLES AND ACCRUED EXPENSES 2017 2016 RM RM Non-current: Other payables - tenant deposits received 14,349,488 12,963,827 Current: Other payables 924,471 1,156,968 Accrued expenses 6,020,766 5,316,378 6,945,237 6,473,346 Add : Islamic financing – Non-current (Note 16) 347,698,967 346,804,955 Islamic financing – Current (Note 16) 3,100,000 - Amount owing to related parties 366,571 - 351,165,538 346,804,955 Total financial liabilities carried at amortised cost 372,460,263 366,242,128 Amounts owing to related parties, which arose mainly from management fee, collections and payments on behalf of the Fund, are unsecured, interest-free and repayable on demand. The transaction with related parties are disclosed in Note 20. NOTES TO THE FINANCIAL STATEMENTS - CONT’D