NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 26. CASH AND BANK BALANCES Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Deposits with licensed banks 72,032 68,591 6,975 4,091 Cash in hand and at banks 624,328 431,911 96,306 28,858 Cash and bank balances (Note 46) 696,360 500,502 103,281 32,949 For the purpose of statements of cash flows: Cash and bank balances 696,360 500,502 103,281 32,949 Less: - Cash and bank balances not available for use (231,911) (171,574) (103,143) (30,028) - Bank overdrafts (Note 32) (12,589) (20,091) (12,589) (20,091) Total cash and cash equivalents 451,860 308,837 (12,451) (17,170) The interest rates for the deposits with licensed banks range from 1.50% to 2.95% (2023: 1.50% to 2.97%) per annum and the maturities of deposits as at the end of the financial year range from 28 to 365 days (2023: 13 to 365 days). Included in cash at banks of the Group are amounts of RM303,397,000 (2023: RM249,194,000) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act, 1966 and are therefore restricted from use in other operations. Cash and bank balances not available for use of the Group and of the Company are: (i) Deposits of the Group held in trust by a trustee of RM23,001,000 (2023: RM20,318,000) for golf course members’ subscription fees. (ii) Deposits of the Group and of the Company amounting to RM16,503,000 (2023: RM13,250,000) and RM1,976,000 (2023: RM1,943,000) respectively which are pledged as securities for bank guarantees granted to the Group and the Company. (iii) Deposits of the Group and of the Company amounting to RM32,285,000 (2023: RM26,919,000) and RM4,999,000 (2023: RM2,148,000) respectively which are pledged as securities for banking facilities granted to the Group and the Company. (iv) Placements of debt service reserve and escrow accounts of the Group and of the Company amounting to RM160,122,000 (2023: RM111,087,000) and RM96,168,000 (2023: RM25,937,000) respectively which are pledged as securities for term loans, revolving credits, perpetual bond and Islamic Medium Term Notes granted to the Group and the Company. ANNUAL REPORT 2024 308
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