NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 13. Amount due from subsidiaries (cont’d) Movement in allowance for expected credit losses on amount due from a subsidiary: Fund 2022 2021 RM RM At 1 January 1,303,019 - Allowance for expected credit loss - 1,303,019 At 31 December 1,303,019 1,303,019 Amount due from a subsidiary represents unsecured advances given to a subsidiary from the proceeds raised from Islamic Financing and issuance of new units in previous years for the purpose of purchase of an investment property in Australia and profit sharing on the advances receivable from the subsidiary. It is non-trade, unsecured, non-interest bearing and repayable on demand. 14. Cash and cash equivalents Cash and cash equivalents included in the statements of cash flows comprise the following items: Group Fund 2022 2021 2022 2021 RM RM RM RM Islamic fixed deposits with licensed banks 55,356,398 40,503,678 55,317,256 40,465,247 Cash and bank balances 40,774,756 49,337,838 22,979,202 29,809,806 Total cash and bank balances 96,131,154 89,841,516 78,296,458 70,275,053 Less: Islamic fixed deposits with licensed banks with maturity period of more than 3 months (39,142) (38,431) - - Cash and cash equivalents 96,092,012 89,803,085 78,296,458 70,275,053 At the reporting date, the weighted average deposit rate per annum and average remaining maturity period of Islamic fixed deposits with licensed banks are as follows: Group Fund 2022 2021 2022 2021 Weighted average deposit rate (%) 2.48 1.68 2.48 1.67 Average remaining maturity period 36 38 32 28 177 1. Corporate Overview 3. Strategic Performance 5. Governance Structure 2. The Driving Forces 4. Sustainability Statement 6. Financial Reports
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