DESTINI Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS 17. Amount Due from Subsidiaries Company 2019 2018 RM RM Amount due from subsidiaries 282,264,458 299,453,045 Less: Accumulated impairment losses (15,471,589) (15,471,589) 266,792,869 283,981,456 The amount due from/(to) subsidiaries are unsecured, interest free and are repayable/ payable on demand except for an amount due from a subsidiary of RM14,952,489 (2018: RM27,857,878) which bears interest at 6.3% (2018: 6.3%) per annum. 18. Amount Due from Joint Ventures This amount represents unsecured, interest free advances and is repayable on demand. 19. Amount Due from Associate Company This represents unsecured, interest free advances and are repayable on demand. 20. Fixed Deposits with Licensed Banks The fixed deposits of the Group at amount of RM16,442,167 (2018: RM29,633,068) have been pledged to licensed banks as security for bankers’ guarantees issued and banking facilities granted to subsidiaries as disclosed in Note 27. The interest rates of deposits during the financial year range from 0.05% to 3.45% (2018: 2.30% to 3.60%) per annum and the maturities of deposits are 5 to 365 days (2018: 5 to 365 days) respectively. 21. Cash and Bank Balances Included in cash and bank balances of the Group is an amount of Nil (2018: RM50) has been pledged to licensed banks as security for banking facilities granted to subsidiaries as disclosed in Note 27. 06 FINANCIAL STATEMENTS DESTINI BERHAD 160