MSM Malaysia Holdings Berhad Annual Report 2020

28 CASH AND CASH EQUIVALENTS (CONTINUED) The fixed deposits, cash and bank balances are denominated as follows: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 150,447 151,404 20,360 34,353 US Dollar 44,231 19,037 - - AE Dirham 1,243 95 - - 195,921 170,536 20,360 34,353 Credit rating profiles of banks in which the fixed deposits have been placed are as follows: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 AAA 127,748 138,049 16,688 24,590 AA3 - 5,603 - 4,692 127,748 143,652 16,688 29,282 AAA - A financial institution rated AAA has a superior capacity to meet its financial obligations. This is the highest long-term financial institution rated assigned by RAM Ratings. AA - A financial institution rated AA has a strong capacity to meet its financial obligations. The financial institution is resilient against adverse changes in circumstances, economic conditions and/or operating environments. A - A financial institution rated A has an adequate capacity to meet its financial obligations. The financial institution is more susceptible to adverse changes in circumstances, economic conditions and/or operating environments than those in higher-rated categories. For long-term ratings, RAM Ratings applies subscripts 1, 2 or 3 in each rating category from AA to C. The subscripts 1 indicates that the financial institution ranks at the higher end of its generic rating category; the subscript 2 indicates a mid-ranking; and the subscripts 3 indicates that the financial institution ranks at the lower end of its generic rating category. MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 209 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 SUSTAINABILITY REPORT EFFECTIVE LEADERSHIP CORPORATE GOVERNANCE FINANCIAL STATEMENTS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING