2019 UEM Edgenta Annual Report

218 Notes to the Financial Statements For the year ended 31 December 2019 23. SHORT TERM INVESTMENTS Group 2019 RM’000 2018 RM’000 Fair value through profit or loss investments: - unquoted unit trusts 62,385 95,989 - investment in Islamic funds 78 11,189 62,463 107,178 Unquoted unit trusts represent investment funds invested with licensed fund managers in the funds approved by the Securities Commission. The portfolio of investments authorised by the Board of Directors comprises only deposits in both Islamic and conventional instruments with financial institutions. 24. CASH, BANK BALANCES AND DEPOSITS Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Cash in hand and at banks 400,299 232,187 13,956 4,273 Deposits with licensed banks 158,232 264,106 33,542 27,126 558,531 496,293 47,498 31,399 (a) Included in cash at bank of the Group are amounts of RM34.2 million (2018: RM20.4 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 RM3.3 million (2018: RM15.7 million) are on lien for bank guarantee facilities granted to certain subsidiaries. As at 31 December 2019, the subsidiaries have utilised guarantee facilities amounting to RM1.4 million (2018: RM12.1 million). (c) Deposits with licensed banks amounting to RM0.5 million (2018: RM5.6 million) are pledged to secure certain facilities granted to the Group. (d) Deposits with licensed banks of the Group amounting to RM11.3 million (2018: RM10.3 million) are pledged as securities for bank borrowing granted to a foreign subsidiary. (e) Cash and fixed deposits of RM4.5 million (2018: RM1.9 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. Other information on financial risks of cash, bank balances and deposits are disclosed in Note 42.