GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 145 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 21. OTHER INVESTMENTS (cont’d) (h) The following table shows a reconciliation of Level 2 fair values of other investments: Group Company 2019 2018 2019 2018 RM RM RM RM Balance as at 1 January 42,833,438 98,069 42,732,647 - Addition 56,780,000 56,467,121 41,080,000 56,467,121 Interest received 1,715,669 1,099,101 1,475,495 1,096,379 Disposal (48,102,250) (14,769,500) (43,177,755) (14,769,500) Fair value changes 43,717 (61,353) 53,652 (61,353) 53,270,574 42,833,438 42,164,039 42,732,647 (i) Information on financial risk of investment is disclosed in Note 33 to the financial statements. 22. CASH AND BANK BALANCES Group Company 2019 2018 2019 2018 RM RM RM RM Cash and bank balances 125,630,466 76,889,447 3,128,665 9,799,257 Deposits with licensed banks 12,996,594 25,419,637 - - 138,627,060 102,309,084 3,128,665 9,799,257 (a) Cash and bank balances and deposits with licensed banks are classified as financial assets measured at amortised cost. (b) The weighted average effective interest rate of deposits with licensed banks of the Group is 3.19% (2018: 2.68%) per annum. The average maturity days are 188 days (2018: 90 days) per annum. (c) Included in the deposits of the Group is an amount of RM12,332,919 (2018: RM11,668,620) pledged to licensed banks as securities for credit facilities granted to one (1) subsidiary as disclosed in Note 25 to the financial statements. (d) At the end of the reporting period, the interest rate profile of the deposits with licensed banks was: Group Company 2019 2018 2019 2018 RM RM RM RM Fixed rate 12,996,594 25,419,637 - - Sensitivity analysis for fixed rate deposits with licensed banks at the end of the reporting period is not presented as fixed rate instrument is not affected by change in interest rates.