Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 150 27 CASH AND CASH EQUIVALENTS Cash and cash equivalents at the end of the financial year comprise the following: Group Company 31.12.2012 31.12.2011 1.1.2011 31.12.2012 31.12.2011 1.1.2011 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Deposits with licensed banks 881,585 746,194 810,486 468,693 81,262 79,414 Cash and bank balances 85,913 91,931 87,135 1,107 143 140 Cash and cash equivalents 967,498 838,125 897,621 469,800 81,405 79,554 Deposits with licensed banks are held in short-term money market and fixed deposits. Deposits with licensed banks of the Group and of the Company at the end of the financial year have an average maturity of 17 days (31.12.2011: 14 days; 1.1.2011: 9 days) and 19 days (31.12.2011: 10 days; 1.1.2011: 10 days) respectively. Bank balances are deposits held at call with banks. The credit quality of bank balances and deposits with licensed banks can be assessed by reference to external credit ratings as follows: Group Company 31.12.2012 31.12.2011 1.1.2011 31.12.2012 31.12.2011 1.1.2011 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Local licensed banks (1) : - AAA 783,607 701,108 836,476 400,484 81,278 75,527 - AA1 88 – – – – – - AA2 168,607 66,909 44,524 69,316 127 4,027 - AA3 – 60,103 – – – – Offshore licensed bank (2) : - Aa1 – 41 – – – – - Aa2 37 – 40 – – – - A1 14,536 9,462 16,191 – – – 966,875 837,623 897,231 469,800 81,405 79,554 Note: Source: Bloomberg with ratings provided by: (1) RAM Ratings Services Berhad (2) Moody’s NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 Continued