FGV Audited Financial Statements 2019

178 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 37 DEPOSITS, CASH AND BANK BALANCES Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Fixed deposits in: - Licensed banks 1,093,322 558,944 724 534 - Licensed financial institutions 186,341 28,470 65 - 1,279,663 587,414 789 534 Cash and bank balances 337,959 632,937 8,398 12,143 Deposits, cash and bank balances 1,617,622 1,220,351 9,187 12,677 Less: Restricted cash (49,175) (124,344) - - Cash and cash equivalents 1,568,447 1,096,007 9,187 12,677 Restricted cash of RM49,175,000 (2018: RM124,344,000) relates to cash pledged in order to obtain certain bank facilities. The fixed deposits, cash and bank balances are denominated as follows: Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Ringgit Malaysia 1,389,114 1,066,138 7,212 9,594 United States Dollar 198,815 125,439 127 - Canadian Dollar 1,496 3,023 1,496 3,023 Indonesian Rupiah 11,010 7,925 - - Pakistan Rupees 3,484 10,646 - - Great Britain Pound 7,747 237 352 60 Others 5,956 6,943 - - 1,617,622 1,220,351 9,187 12,677 The weighted average finance rates (per annum) of fixed deposits and bank balances that were effective at the financial year end were as follows: Group Company 2019 % 2018 % 2019 % 2018 % - Licensed banks 2.52 2.73 2.93 0.89 - Licensed financial institutions 3.50 2.79 3.45 3.41 Fixed deposits as at 31 December 2019 for the Group and for the Company have average maturity periods of 71 days (2018: 59 days) and 30 days (2018: 30 days) respectively. Cash and bank balances are deposits held at call with banks.