NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 28 CASH AND CASH EQUIVALENTS (CONTINUED) The fixed deposits, cash and bank balances are denominated as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 151,404 180,369 34,353 116,398 US Dollar 19,037 10,462 - - AE Dirham 95 732 - - 170,536 191,563 34,353 116,398 Credit rating profiles of banks in which the fixed deposits have been placed are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 AAA 138,049 144,709 24,590 111,873 AA3 5,603 4,077 4,692 3,198 143,652 148,786 29,282 115,071 AAA - A financial institution rated AAA has a superior capacity to meet its financial obligations. This is the highest longterm financial institution rated assigned by RAM Ratings. AA - A financial institution rated AA has a strong capacity to meet its financial obligations. The financial institution is resilient against adverse changes in circumstances, economic conditions and/or operating environments. A - A financial institution rated A has an adequate capacity to meet its financial obligations. The financial institution is more susceptible to adverse changes in circumstances, economic conditions and/or operating environments than those in higher-rated categories. For long-term ratings, RAM Ratings applies subscripts 1, 2 or 3 in each rating category from AA to C. The subscripts 1 indicates that the financial institution ranks at the higher end of its generic rating category; the subscript 2 indicates a mid-ranking; and the subscripts 3 indicates that the financial institution ranks at the lower end of its generic rating category. MSM Malaysia Holdings Berhad | Annual Report 2019 196
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