Page 147 - S P Setia Annual Report 2013
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Annual Report 2013 S P SETIA BERHAD GROUP Financial Statements | 145





NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2013 (CONT’D)






21. DePOSitS
Group company
2013 2012 2013 2012
Rm’000 Rm’000 Rm’000 Rm’000

Deposits:
- with licensed banks 698,921 214,238 414,889 51,206
- with other licensed fnancial institutions 326,060 379,968 326,041 379,968
1,024,981 594,206 740,930 431,174

Included in deposits with licensed banks of the Company is RM Nil (2012 : RM1,206,000) which have been pledged to banks as security for
banking facilities granted to the Company.

Included in deposits with licensed banks of the Group are funds maintained under sinking fund accounts and escrow accounts amounting to
RM1,400,000 (2012 : RM84,000) which were opened in accordance with terms and conditions set out in the term loan agreements referred
to in note 25 below.

Included in deposits of the Group are amounts of RM97,625,000 (2012 : RM76,727,000) which have been charged to banks as security for
banking facilities granted to jointly controlled entities.
Included in deposits of the Group is an amount of RM101,829,000 (2012 : RM50,298,000) which is held under Housing Development (Project
Account Rules) Control and Licensing Act in Singapore. Funds maintained in the Project Account Rules earn interest rate at 0.15% (2012 :
Nil) per annum.
The effective interest rates for the Group’s and the Company’s deposits range from 1.92% to 3.30% and 2.99% to 3.30% per annum
respectively (2012 : 2.80% to 4.19% and 3.10% to 4.19% per annum). All deposits have maturities of less than a year.
The currency exposure profle of deposits is as follows:

Group company
2013 2012 2013 2012
Rm’000 Rm’000 Rm’000 Rm’000

Ringgit Malaysia 833,028 525,479 740,930 431,174
Australian Dollar 3,614 - - -
Singapore Dollar 101,829 - - -
Sterling Pound 86,510 68,727 - -
1,024,981 594,206 740,930 431,174



22. caSH anD BanK BalanceS
Group
2013 2012
Rm’000 Rm’000

Cash and bank balances include monies in:
- Housing Development Accounts 898,827 652,091
- Sinking Fund Accounts 3,395 5,087
- Debt Service Reserve Accounts 7,646 9,478
- Escrow Accounts 48,369 71,926
- Revenue Accounts 433 274
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