Maxis Berhad | Annual Report 2013

135 OVERVIEW OUR BUSINESS STRATEGIC REVIEW CORPORATE GOVERNANCE FINANCIAL STATEMENTS Maxis Berhad Annual Report 2013 OTHER INFORMATION 27 CASH AND CASH EQUIVALENTS Cash and cash equivalents at the end of the financial year comprise the following: GROUP COMPANY 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Deposits with licensed banks 708,023 881,585 160,424 468,693 Cash and bank balances 99,923 85,913 215 1,107 Cash and cash equivalents 807,946 967,498 160,639 469,800 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 9 days (2012: 17 days) and 6 days (2012: 19 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 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Local licensed banks (1) : - AAA 407,482 783,607 908 400,484 - AA1 89,698 88 – – - AA2 302,186 168,607 159,731 69,316 Offshore licensed bank (2) : - Aa2 31 37 – – - A1 8,220 14,536 – – 807,617 966,875 160,639 469,800 Note: Source: Bloomberg with ratings provided by: (1) RAM Ratings Services Berhad (2) Moody’s