148 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 35 DEPOSITS, CASH AND BANK BALANCES Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Fixed deposits in: - Licensed banks 947,159 1,488,122 51,869 327,178 - Licensed financial institutions 79,870 118,097 - - 1,027,029 1,606,219 51,869 327,178 Cash and bank balances 370,077 425,447 16,798 11,497 Deposits, cash and bank balances 1,397,106 2,031,666 68,667 338,675 Less: Restricted cash (67,823) (64,475) - - Cash and cash equivalents 1,329,283 1,967,191 68,667 338,675 Restricted cash of RM67,823,000 (2021: RM64,475,000) relates to cash pledged in order to obtain certain bank facilities. The fixed deposits, cash and bank balances are denominated as follows: Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Ringgit Malaysia 1,231,971 1,857,469 67,491 337,687 United States Dollar 138,531 152,027 143 143 Indonesian Rupiah 11,074 5,602 - - Thai Baht 10,184 9,886 - - Pakistan Rupees 2,418 2,806 - - Great Britain Pound 1,110 845 1,033 845 Others 1,818 3,031 - - 1,397,106 2,031,666 68,667 338,675 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 2022 % 2021 % 2022 % 2021 % - Licensed banks 2.54 1.95 2.10 1.80 - Licensed financial institutions 2.33 2.03 1.82 2.06 Fixed deposits as at 31 December 2022 for the Group and for the Company have average maturity periods of 75 days (2021: 88 days) and 89 days (2021: 80 days) respectively. Cash and bank balances are deposits held at call with banks.
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