FGV Annual Report 2012

92 Felda Global Ventures Holdings Berhad 31 CASH AND CASH EQUIVALENTS The weighted average interest rates (per annum) of fixed deposits and bank balances that were effective at the financial year end were as follows: Group Company 2012 2011 2012 2011 % % % % Licensed banks 1.98 1.78 1.80 1.60 Licensed financial institutions 2.46 3.08 3.15 3.18 Fixed deposits as at 31 December 2012 for the Group and Company have average maturity periods of 60 days (2011: 30 days) and 30 days (2011: 24 days) respectively. Cash and bank balances are deposits held at call with banks. 32 ASSETS HELD FOR SALE On 13 August 2012, the board of directors of a subsidiary approved the disposal of certain sugar cane structures and plant and machinery as they are no longer suitable for use in rubber and oil palm plantations. The assets to be awarded to successful bidders upon evaluation of tenders submitted. These assets were reclassified to assets held for sale and comprise the following as at 31 December 2012: Buildings, structures and Plant and renovations machinery Total RM’000 RM’000 RM’000 Property, plant and equipment (Note 18) Cost 1,519 18,988 20,507 Accumulated depreciation (1,515) (17,858) (19,373) Net book value 4 1,130 1,134 Inventories 807 Total assets held for sale 1,941 Notes to the Financial Statements for the financial year ended 31 December 2012