Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 339 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 27. CASH, BANK BALANCES AND DEPOSITS Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Cash in hand and at banks 421,716 478,242 1,746 53,289 Deposits with licensed banks 194,100 131,244 1,500 9,000 615,816 609,486 3,246 62,289 (a) Included in cash at bank of the Group are amounts of RM0.12 million (2022: RM0.12 million) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act 1966 and Section 8A of the Housing Development Account (Control and Licensing) Sabah Act, 1978 and are restricted for use in other operations. (b) Deposits with licensed banks of the Group amounting to RM3.4 million (2022: RM3.2 million) are on lien for bank guarantee facilities granted to certain subsidiaries. As at 31 December 2023, the subsidiaries have utilised guarantee facilities amounting to RM1.5 million (2022: RM1.5 million). (c) Deposits with licensed banks amounting to RM0.5 million (2022: RM2.0 million) are pledged to secure certain facilities granted to the Group. (d) Deposits with licensed banks of the Group amounting to RM20.0 million (2022: RM22.9 million) are pledged as securities for bank borrowing granted to a foreign subsidiary. (e) Cash and fixed deposits of RM24.7 million (2022: RM21.9 million) from a foreign subsidiary are pledged as collateral for performance of service under integrated facility management contract, and are therefore restricted from use in other operation. (f) Cash and bank balances amounting to RM0.6 million (2022: RM0.7 million) are held in trust to maintain and deposit all security deposits received by the Company as licensed Estate Agent held on behalf of its client. (g) The maturities of deposits are between 1 to 365 days (2022: 1 to 365 days). Other information on financial risks of cash, bank balances and deposits are disclosed in Note 41.
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