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Annual Report 2014 | S P SETIA BERHAD GROUP | 167

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

20. DEPOSITS

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Deposits:

- with licensed banks

969,673

614,500

676,788

414,889

- with other licensed financial institutions

195,426

326,060

195,426

326,041

1,165,099

940,560

872,214

740,930

Included in deposits with licensed banks of the Group are funds maintained under sinking fund accounts and escrow accounts amounting

to RM2,000,000 (2013 (restated): RM2,000,000) 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 RM Nil (2013 (restated): RM3,614,000) which have been charged to banks as security

for banking facilities.

Included in deposits of the Group is an amount of RM51,614,000 (2013 (restated): RM101,829,000) 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 0.25% (2013: 0.15%) per annum.

The effective interest rates for the Group’s and the Company’s deposits range from 2.00% to 5.50% and 2.99% to 3.30% per annum

(2013 (restated): 1.92% to 5.07% and 2.99% to 3.30% per annum) respectively. All deposits have maturity periods of less than a year.

The currency exposure profile of deposits is as follows:

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Ringgit Malaysia

1,110,215

835,117

872,214

740,930

Australian Dollar

-

3,614

-

-

Singapore Dollar

51,614

101,829

-

-

Vietnamese Dong

3,270

-

-

-

1,165,099

940,560

872,214

740,930