2018 UEM Edgenta Annual Report

24. CASH, BANK BALANCES AND DEPOSITS Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Cash in hand and at banks 232,187 200,091 4,273 4,912 Deposits with: - licensed banks 264,106 309,131 27,126 82,365 - other financial institutions – 10,860 – – 496,293 520,082 31,399 87,277 (a) Included in cash at bank of the Group are amounts of RM20.4 million (2017: RM13.9 million) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act 1966 and Section 8A of the Housing Development Account (Control and Licensing) Sabah Act, 1978 and are restricted for use in other operations. (b) Deposits with licensed banks of the Group amounting to RM15.7 million (2017: RM14.8 million) are on lien for bank guarantee facilities granted to certain subsidiaries. As at 31 December 2018, the subsidiaries have utilised guarantee facilities amounting to RM12.1 million (2017: RM12.1 million). (c) Deposits with licensed banks amounting to RM5.6 million (2017: RM3.5 million) are pledged to secure certain facilities granted to the Group. (d) Deposits with licensed banks of the Group amounting to RM12.2 million (2017: RM12.9 million) are pledged as securities for bank borrowing granted to a foreign subsidiary. Other information on financial risks of cash, bank balances and deposits are disclosed in Note 42. 25. ASSET HELD FOR SALE The Company has entered into a sale and purchace agreement for the disposal of one unit of its property which consists of leasehold land and building at a total consideration approximating its carrying amount. The disposal is expected to be completed in 2019. Accordingly, the property has been classified as non-current asset held for sale as at the year end. The carrying amount of non-current asset classified as held for sale of the Group and Company as at 31 December 2018 is as follows: Group Company 2018 2018 RM’000 RM’000 Leasehold land 1,707 2,343 Building 1,366 1,509 3,073 3,852 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2018 Management Discussion & Analysis UEM Edgenta Berhad Annual Report 2018 About UEM Edgenta Chairman’s Statement 214