232 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʧ (cont’d) 20. DEPOSITS WITH LICENSED BANKS (CONT’D) (b) The trust fund of the Group pledged with licensed bank was established under the Trust Deed dated 24 July 2020 and these accounts are not for Group’s operation purposes. 21. CASH AND CASH EQUIVALENTS Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Short-term cash investments and stablecoin (a) 62,669 3,504 1,666 2,222 Fixed deposits (b) 537 390 - - Cash and cash equivalents (c) 286,345 56,813 52,042 12,806 349,551 60,707 53,708 15,028 (a) The short-term cash investments represent investment in highly liquid money market and stablecoin. These investments are readily convertible to known amount of cash and are subject to an insignificant risk of changes. The short-term cash investments’ unit price of the Group and of the Company ranged from RM0.50 to RM1.27 and RM1.00 to RM1.27 (2023: RM0.50 to RM1.44 and RM0.50 to RM1.44) respectively and have maturity periods ranged from 1 to 30 (2023: 1 to 30) days. (b) The fixed deposits with licensed banks of the Group at the end of the reporting period bore effective interest rates ranged from 1.75% to 3.51% (2023: 1.65% to 3.25%) per annum. The fixed deposits have maturity periods ranged from 1 to 12 (2023: 1 to 12) months. (c) Included in cash and bank balances of the Group and of the Company is an amount of RMNil and RMNil (2023: RM75,000 and RM68,000) held in trust by a Director of the Company and a Director of a subsidiary. 22. ASSETS HELD FOR SALE Group 2024 2023 RM’000 RM’000 Other investments Investment in quoted shares to be distribute as dividend-in-specie - - At beginning of the financial year - 56,280 Distributed as dividend-in-specie - (56,267) Transfer to other investments - (13) At end of the financial year - - On 23 December 2022, the Company proposed to distribute 84,000,000 ordinary shares in Agmo, representing the entire 25.8% equity interest in Agmo held through MYEGC, a wholly-owned subsidiary of the Company, to entitled shareholders of the Company in two (2) separate tranches by way of a dividend-in-specie (“Proposed Dividend-in-Specie”). As such, the Group’s investment in Agmo was reclassified to asset held for sale as the investment will be held for distribution to owners of the Company.
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