Maxis Berhad
Annual Report 2015
page
136
Notes to the Financial Statements
31 December 2015
27 CASH AND CASH EQUIVALENTS
Cash and cash equivalents at the end of the financial year comprise the following:
Group
Company
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
Deposits with licensed banks
1,123,583
1,422,723
5,668
185,824
Cash and bank balances
172,865
107,796
15,485
136
Cash and cash equivalents
1,296,448
1,530,519
21,153
185,960
Deposits with licensed banks are held in short-term money market and fixed deposits.
Deposits with licensed banks of the Group and of the Company at the end of the financial year have an average maturity of 19 days (2014: 16 days)
and 60 days (2014: 17 days) respectively. Bank balances are deposits held at call with banks.
The credit quality of bank balances and deposits with licensed banks can be assessed by reference to external credit ratings as follows:
Group
Company
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
Local licensed banks
(1)
:
- AAA
738,724
737,738
16,987
100,262
- AA1
127,231
135,921
-
-
- AA2
426,599
652,282
4,160
85,698
Offshore licensed banks
(2)
:
- Aa2
36
-
-
-
- Aa3
-
33
-
-
- A1
-
2,758
-
-
- A2
3,375
1,389
-
-
- BAA2
-
5
-
-
- BA2
4
-
-
-
1,295,969
1,530,126
21,147
185,960
Note:
Source: Bloomberg with ratings provided by:
(1)
RAM Ratings Services Berhad
(2)
Moody’s
