My EG Services Berhad Annual Report 2020

ANNUAL REPORT 2020 189 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020 (CONT’D) 21. FIXED DEPOSITS WITH LICENSED BANKS (a) The fixed deposits with licensed banks of the Group and the Company at the end of the reporting period bore effective interest rates ranging from 1.35% to 3.35% (2019 - 2.65% to 3.35%) per annum and 3.10% to 3.35% (2019 - 3.10% to 3.35%) per annum respectively. The fixed deposits have maturity periods ranging from 1 to 12 (2019 - 1 to 12) months and 12 (2019 - 12) months for the Group and the Company respectively. (b) Included in the fixed deposits with licensed banks of the Group and the Company at the end of the reporting period were amounts of RM12,624,440 and RM7,688,096 (2019 - RM12,240,016 and RM7,688,096) respectively which have been pledged to licensed banks as security for banking facilities granted to the Group and the Company. (c) At the end of the reporting period, the fixed deposits of the Group and the Company amounting to RM227,460 and RM33,000 (2019 - RM316,000 and RM33,000) respectively were held in trust by a director of a subsidiary and a director of the Company. The fixed deposits held in trust have been pledged to licensed banks as security for banking facilities granted to the Group and the Company. 22. CASH AND BANK BALANCES Included in the cash and bank balances is the following:- The Group The Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Short-term cash investments 116,347 1,193 55,650 618 The short-term cash investments represent investment in highly liquid money market. These investments are readi ly convertible to known amount of cash and are subject to an insignificant risk of changes in value. The short-term cash investments’ unit price range from RM0.51 to RM1.38 (2019 - RM0.51 to RM1.33). The short-term cash investments have maturity periods ranging from 1 to 30 (2019 - 1 to 30) days. At the end of the reporting year, the bank balances of the Group and the Company amounting to RM26,718 (2019 - RM100,000) was held in trust by a director of the Company and a director of a subsidiary.