Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 19 TIME DEPOSITS Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Time deposits placed with licensed banks in Malaysia 79,513 29,566 684 1,466 Time deposits with maturity more than 3 months 23,668 23,515 - - 103,181 53,081 684 1,466 As at 31 December 2023 and 31 December 2022, the Group and the Company have no exposure to foreign currency risk for time deposits and short term investments. The effective interest rates of time deposits of the Group and the Company are as follows: Group Company 2023 2022 2023 2022 % % % % Time deposits 1.20 – 3.31 1.00 – 2.70 2.00 – 2.75 1.00 – 2.00 20 CASH AND BANK BALANCES Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Cash and bank balances 307,163 275,929 2,915 1,801 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 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 - United States Dollar 63,570 120,640 219 367 - Singapore Dollar 12,396 7,482 - 122 - Japanese Yen 8,496 5,148 - - - China Renminbi 2,416 1,666 - - - Indonesian Rupiah 2,009 331 - - - Euro Dollar 1,720 1,603 - - - Qatari Rial 1,216 740 - - - British Pound 843 959 - - 92,666 138,569 219 489 Cash and bank balances are deposits held at call with banks and earn no interest. 243 Wasco Berhad
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