27. CASH, BANK BALANCES AND DEPOSITS (CONTD.) (e) Cash and fixed deposits of RM29.8 million (2023: RM24.7 million) from a foreign subsidiary are pledged as collateral for performance of service under integrated facility management contract, and are therefore restricted from use in other operation. (f) Cash and bank balances amounting to RM0.7 million (2023: RM0.6 million) are held in trust to maintain and deposit all security deposits received by the Company as licensed Estate Agent held on behalf of its client. (g) The maturities of deposits are between 1 to 365 days (2023: 1 to 365 days). Other information on financial risks of cash, bank balances and deposits are disclosed in Note 41. 28. NET ASSETS CLASSIFIED AS HELD FOR SALE In the previous financial year, the Board of Directors approved the plan to dispose Faber Union Sdn. Bhd. (“FUSB”), an indirect wholly-owned subsidiary of the Company via Faber Development Holdings Sdn. Bhd. (“FDH”). Summarised statement of financial position The major classes of assets and liabilities of FUSB classified as held for sale are as follows: 2024 RM’000 2023 RM’000 Assets Trade and other receivables 180 – Inventories 43,462 46,570 Tax recoverable 2,905 2,829 Cash and short term deposit 6,586 12,046 Assets held for sale 53,133 61,445 Liabilities Accruals, representing liability directly associated with assets held for sale (798) (1,027) Net assets of disposal group 52,335 60,418 The assets are measured at the lower of their carrying amount and fair value less costs to sell. As at the date of these financial statements, the disposal is pending completion as the Group is still negotiating terms and conditions of the sale. FUSB has not been disclosed as discontinued operation as the Group considers its operation to be immaterial. Notes to the Financial Statements For the year ended 31 December 2024 339 FINANCIAL STATEMENTS
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