DESTINI Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS 16. Amount Due from Subsidiaries Company 2018 2017 RM RM Amount due from subsidiaries 299,453,045 316,192,595 Less: Accumulated impairment losses (15,471,589) (15,471,589) 283,981,456 300,721,006 These amounts represent unsecured, interest free advances and are repayable on demand except for an amount of RM27,857,878 (2017:RM44,292,469) which bears interest at 6.3% (2017: 6.3%) per annum. 17. Amount Due from Joint Ventures This amount represents unsecured, interest free advances and is repayable on demand. 18. Fixed Deposits with Licensed Banks The fixed deposits of the Group at amount of RM29,633,068 (2017: RM40,859,107) have been pledged to licensed banks as security for bankers’ guarantees issued and banking facilities granted to subsidiaries as disclosed in Note 25. The interest rates of deposits during the financial year range from 2.30% to 3.450% (2017: 2.30% to 3.60%) per annum and the maturities of deposits are 5 to 365 days (2017: 5 to 365 days) respectively. 19. Cash and Bank Balances Included in cash and bank balances of the Group is an amount of RM50 (2017: RM50) has been pledged to licensed banks as security for banking facilities granted to subsidiaries as disclosed in Note 25. DESTINI BERHAD ANNUAL REPORT 2018 164