PRG Holdings Berhad Annual Report 2018

17. CASH AND BANK BALANCES (continued) (a) Included in the Group’s cash and bank balances is an amount of RM1,142,000 (2017: RM651,000) held under the Housing Development Account pursuant to Section 7A of Housing Development (Control and Licensing) Act, 1966, as amended by the Housing Developers (Housing Development Account) (Amendment) Regulations, 2002. (b) Deposits placed with financial institutions of the Group have maturity periods ranging from 14 days to 180 days (2017: 7 days to 365 days) with interest rates ranging from 1.0% to 5.5% (2017: 1.00% to 6.30%) per annum. Included in deposits placed with financial institutions of the Group is restricted cash of RM82,000 (2017: RM2,785,000) which represents deposits which are maintained in a designated Debt Service Reserve Account with a licensed bank in connection with banking facilities granted to the Group as disclosed in Note 20 to the financial statements. (c) Investments in short term funds are placements made in management funds that invest in fixed deposits and short term money market instruments offered by banks or financial institutions licensed under Financial Services Act 2013 or the Islamic Financial Services Act 2013 which allow redemption with a notice period of one (1) to thirty (30) business days. (d) The currency exposure profile of cash and bank balances are as follows: Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Ringgit Malaysia 9,461 11,718 340 125 United States Dollar 12,836 6,549 3 3 Hong Kong Dollar 7,377 19,635 158 - Vietnamese Dong 3,674 3,941 * * Others 1,731 180 - - 35,079 42,023 501 128 * Amount is less than RM1,000. (e) For the purpose of the statements of cash flows, cash and cash equivalents comprise the following as at the end of each reporting period: Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Cash and bank balances Cash and bank balances 23,067 9,947 501 128 Deposits placed with financial institutions 11,837 26,478 - - Investments in short term funds 175 5,598 - - As reported in statements of financial position 35,079 42,023 501 128 Less: Bank overdraft (Note 20) (8,582) - - - Deposits placed with financial institutions with original maturity of more than three (3) months (647) (1,817) - - Restricted cash (82) (2,785) - - As reported in statements of cash flows 25,768 37,421 501 128 (f) Information on financial risks of cash and bank balances is disclosed in Note 33 to the financial statements. 135 PRG HOLD I NGS BERHAD notes to the financial statements 31 December 2018 (continued)