16. CASH AND CASH EQUIVALENTS Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Cash and bank balances 10,999 9,486 92 57 Deposits placed with licensed banks 641 892 - - As reported in the statements of financial position 11,640 10,378 92 57 Less: Deposits pledged (528) (778) - - Less: Bank overdraft (33) (6,024) - - Cash and cash equivalents included in the statements of cash flows 11,079 3,576 92 57 (a) Included in the deposits placed with a licensed bank of the Group is RM528,000 (2022: RM778,000) pledged for bank facilities granted to certain subsidiaries (Note 18). (b) Cash and cash equivalents are denominated in Ringgit Malaysia. (c) As at the end of the reporting period, the maximum credit risk exposure is equivalent to the carrying amount of cash and cash equivalents of the Group. No expected credit losses were recognised arising from the deposits with these banks and financial institutions because the probability of default by these financial institutions were negligible. (d) Weighted average effective interest rate of deposits pledged with licensed banks of the Group as at the end of each reporting period are as follows: Group 2023 2022 Fixed rate 2.32% 1.79% 17. SHARE CAPITAL AND RESERVES (a) Share capital Group and Company 2023 2022 Number Number of shares ’000 RM’000 of shares ’000 RM’000 Issued and fully paid up ordinary shares with no par value Balance as at 1 September 2022/2021 424,585 109,138 424,175 109,073 Issuance pursuant to ESOS exercised 8,770 1,241 410 65 Balance as at 31 August 433,355 110,379 424,585 109,138 ANNUAL REPORT 2023 SASBADI HOLDINGS BERHAD 117 Financial Statements (continued)
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