ANNUAL REPORT 2024 FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 FINANCIAL STATEMENTS NOTES TO THE 163 17. SHORT-TERM INVESTMENTS Group 2024 2023 Carrying Amount Market Value Carrying Amount Market Value RM’000 RM’000 RM’000 RM’000 Money market funds, at fair value 84,278 84,278 133,092 133,092 Company 2024 2023 Carrying Amount Market Value Carrying Amount Market Value RM’000 RM’000 RM’000 RM’000 Money market funds, at fair value 4,291 4,291 48,154 48,154 The money market funds represent investments in highly liquid money market instruments which are redeemable with one (1) day notice at known amounts of cash, and are subject to an insignificant risk of changes in value. 18. CASH AND CASH EQUIVALENTS Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Deposits with licensed banks 6,364 6,399 - - Cash and bank balances 22,268 18,148 1,260 562 Short-term investments (Note 17) 84,278 133,092 4,291 48,154 112,910 157,639 5,551 48,716 Less: Deposits pledged to licensed banks (6,364) (6,399) - - 106,546 151,240 5,551 48,716 The deposits with licensed banks of the Group at the end of the financial year bore effective interest rates ranging from 1.50% to 3.45% (2023 - 1.40% to 3.45%) per annum. The deposits have maturity periods ranging from 1 to 12 (2023 - 1 to 24) months for the Group. The deposits have been pledged to licensed banks as securities for banking facilities granted to the Group.
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