Wah Seong Corporation Berhad Annual Report 2019

159 ANNUAL REPORT 2019 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 23 CASH AND BANK BALANCES (CONTINUED) The Group’s and the Company’s cash and cash equivalents exposure to foreign currency (a currency which is other than the functional currency of the Group entities and the Company) risk were: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 - United States Dollar 10,328 10,082 194 241 - Singapore Dollar 3,659 3,834 111 110 - Japanese Yen 2,356 1,243 - - - Euro Dollar 2,043 4,573 - - - Indonesian Rupiah 693 1,593 - - - China Renminbi 285 310 - - - Ringgit Malaysia 107 - - - - Norwegian Kroner 36 650 - - - Australian Dollar 20 20 20 20 19,527 22,305 325 371 Cash and bank balances are deposits held at call with banks and earn no interest. 24 ASSETS CLASSIFIED AS HELD FOR SALE On 22 June 2018, the Company’s 70% owned subsidiary, Wasco Coatings Insulation Sdn. Bhd. (“WCI”) entered into a sale and purchase agreement for the disposal of plant and machineries for a consideration of RM2,207,000. On 1 June 2019, WCI completed the disposal of the said plant and machineries by fulfilling condition precedent as stipulated in the sales and purchase agreement. Accordingly, the carrying amount of the said plant and machineries was derecognised as asset held for sale, resulting in a no gain, no loss on disposal being recognised in the statement of profit or loss. Details of the assets classified as held for sale are as follows: Group 2019 2018 RM’000 RM’000 Property, plant and equipment - 2,207 25 SHARE CAPITAL Group and Company 2019 2018 Number of shares Carrying value Number of shares Carrying value ’000 RM’000 ’000 RM’000 Issued and fully paid: Ordinary shares with no-par value at 1 January/31 December 774,888 547,690 774,888 547,690 The holders of ordinary shares (except treasury shares) are entitled to receive dividends as and when declared by the Company. All ordinary shares carry one vote per share and rank equally with regard to the Company’s residual assets.