MSM Malaysia Holdings Berhad Annual Report 2020

27 DERIVATIVE FINANCIAL INSTRUMENTS (CONTINUED) 2020 2019 Notional Derivative Notional Derivative Group (continued) amount liabilities amount assets RM’000 RM’000 RM’000 RM’000 Sugar futures contracts - - 32,341 2,388 Foreign exchange forward contracts 74,778 (929) - 68 Islamic profit rate swap 291,667 (10,163) 500,000 (4,968) 366,445 (11,092) 532,341 (2,512) 2020 2019 Company Assets Liabilities Assets Liabilities RM’000 RM’000 RM’000 RM’000 Non-current: Islamic profit rate swap - (10,163) - (4,968) 2020 2019 Notional Derivative Notional Derivative amount liabilities amount assets RM’000 RM’000 RM’000 RM’000 Islamic profit rate swap 291,667 (10,163) 500,000 (4,968) 28 CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise of the following: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Fixed deposits with licensed investment bank in Malaysia 127,748 143,652 16,688 29,282 Cash and bank balances 68,173 26,884 3,672 5,071 Deposits, cash and bank balances 195,921 170,536 20,360 34,353 Less: Restricted cash (15,997) (17,575) (15,997) (17,575) Cash and cash equivalents 179,924 152,961 4,363 16,778 The effective interest rates of the fixed deposits range from 1.57% - 3.30% (2019: 2.80% - 3.25%) per annum for the Group and range from 1.57% - 3.30% (2019: 2.80% - 3.25%) per annum for the Company respectively. All fixed deposits have original maturity terms of 3 months or less (2019: 3 months or less). Bank balances are deposits held at call with banks and earn no interest. Restricted cash relates to bank balance pledged in order to obtain certain bank facilities. MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 208 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 CHAIRMAN’S STATEMENT DELIVERING VALUE MSM OVERVIEW MANAGEMENT DISCUSSION & ANALYSIS GROUP FINANCIAL REPORT