notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
23 TIME DEPOSITS
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Time deposits placed with:
- licensed banks in Malaysia
37,661
108,525
4,036
4,423
- licensed financial institution in Malaysia
46,475
21,039
30,276
15,539
- licensed overseas banks
11,435
47,228
-
-
95,571
176,792
34,312
19,962
The Group’s and the Company’s time deposits exposure to foreign currency (a currency which is other than the functional currency of the Group entities and the
Company) risk, based on carrying amounts as at the end of the financial year, was:
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
- United States Dollar
703
18,513
-
-
- Singapore Dollar
-
2
-
2
703
18,515
-
2
The effective interest rates of time deposits of the Group and the Company are as follow:
Group
Company
2014
2013
2014
2013
%
%
%
%
Time deposits
0.29-5.00
2.30-3.25
0.29-3.05
2.70-3.25
131
Wah Seong Corporation Berhad • Annual Report 2014
