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168 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

21. CASH AND BANK BALANCES

Group

2014

2013

RM’000

RM’000

Restated

Cash and bank balances include monies in:

- Housing Development Accounts

809,681

973,199

- Sinking Fund Accounts

9,329

4,040

- Debt Service Reserve Accounts

6,120

6,120

- Escrow Accounts

51,824

49,167

The Group has charged cash and bank balances amounting to approximately RM6,591,000 (2013 (restated): RM9,565,000) as security

for bank borrowings.

Withdrawals from the Housing Development Accounts are restricted in accordance with the Housing Developers (Housing Development

Account) Regulations 1991.

Funds maintained in the Housing Development Accounts earn interest ranging from 1.00% to 2.15% (2013 (restated): 1.00% to 2.03%)

per annum.

The sinking fund, debt service reserve and escrow accounts were opened in accordance with the terms and conditions set out in the

term loan agreements referred to in note 25 below.

The currency exposure profile of cash and bank balances is as follows:

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Ringgit Malaysia

1,046,245

1,110,537

51,848

4,191

Vietnamese Dong

897

1,296

-

-

Singapore Dollar

193,667

111,159

-

-

Australian Dollar

5,726

6,754

-

-

Other currencies

406

225

-

-

1,246,941

1,229,971

51,848

4,191