7 FINANCIAL STATEMENTS 339 27. CASH, BANK BALANCES AND DEPOSITS (CONTD.) (e) Cash and fixed deposits of RM33.1 million (2024: RM29.8 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 RM0.2 million (2024: RM0.7 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 (2024: 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”). As at the reporting date, although the Group continues to explore strategic options in relation to FUSB, there is currently no active or committed disposal programme in place. Management’s focus has shifted to other strategic priorities and the disposal is no longer considered highly probable within the foreseeable future. Accordingly, the assets and liabilities of FUSB no longer meet the criteria for classification as held for sale under MFRS 5 Non-current Assets Held for Sale and Discontinued Operations. The assets and liabilities have therefore been reclassified to their respective line items in the consolidated statement of financial position and are measured in accordance with the relevant applicable MFRSs. In the previous financial year, the major classes of assets and liabilities of FUSB classified as held for sale are as follows: 2024 RM’000 Assets Trade and other receivables 180 Inventories 43,462 Tax recoverable 2,905 Cash and short term deposit 6,586 Assets held for sale 53,133 Liabilities Accruals, representing liability directly associated with assets held for sale (798) Net assets of disposal group 52,335 The assets were measured at the lower of their carrying amount and fair value less costs to sell.
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