92 EXCEL FORCE MSC BERHAD Notes to the Financial Statements (Cont’d) 14. Other Receivables Group Company 30.6.2023 31.12.2021 1.1.2021 30.6.2023 31.12.2021 1.1.2021 RM RM RM RM RM RM Other receivables 211,930 146,938 100,060 204,904 135,741 92,240 Deposits paid 21,324,061 21,245,061 24,221,891 21,324,061 21,245,061 24,221,891 Prepayments 846,100 727,266 1,083,930 792,387 710,385 1,149,443 22,382,091 22,119,265 25,405,881 22,321,352 22,091,187 25,463,574 Included in deposits of the Group and of the Company are an amount of RM20,922,900 (31.12.2021: RM20,922,900 and 1.1.2021: RM23,900,000) represents refundable deposits paid for renovation of office and acquisition of shares. 15. Amount Due from Subsidiary Companies Amount due from subsidiary companies are unsecured, non-trade related with non-interest bearing and repayable on demand. 16. Deposits, Cash and Bank Balances and Short-term Funds Group Company 30.6.2023 31.12.2021 1.1.2021 30.6.2023 31.12.2021 1.1.2021 RM RM RM RM RM RM Cash in hand 5,567 7,155 7,009 5,063 6,651 6,505 Cash at banks 28,282,722 21,692,519 2,762,847 27,162,809 19,488,526 2,035,311 Fixed deposits with licensed banks 243,227 216,331 207,568 243,227 216,331 207,568 28,531,516 21,916,005 2,977,424 27,411,099 19,711,508 2,249,384 Short-term funds At fair value through profit or loss - Investments in fixed income trust fund in Malaysia 2,639,206 10,440,367 19,875,977 2,639,206 10,440,367 19,875,977 Cash and cash equivalents 31,170,722 32,356,372 22,853,401 30,050,305 30,151,875 22,125,361 (a) Investments in fixed income trust funds in Malaysia represents investments in high liquid money market instruments, which are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. (b) The effective interest rates for short-term funds and deposits with licensed banks of the Group and of the Company at the end of the reporting period range from 0.5% to 0.72% (31.12.2021: 0.15% to 2.72% and 1.1.2021: 0.12% to 7.56%) per annum. (c) Short-term funds and deposits of the Group and of the Company have an average maturity period range from 7 to 30 days (31.12.2021: 7 to 30 days). Bank balances are deposits held at call with banks.
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