Old Chang Kee Ltd - Annual Report 2016 - page 110

A N N U A L R E P O R T 2 0 1 6 108
NOTES TO THE
FINANCIAL STATEMENTS
For the Financial Year Ended 31 March 2016
20. Amount due from subsidiaries
These amounts are non-trade, unsecured, non-interest bearing and are repayable upon demand.
21. Cash and bank balances
Group Company
2016 2015 2016 2015
$’000 $’000 $’000 $’000
Cash on hand 60 56 – –
Cash at banks 14,797 19,070 6,594 10,508
Short-term deposits 4,550 1,021 – –
19,407 20,147 6,594 10,508
Cash at banks earn interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods of between
seven days and one month depending on the immediate cash requirements of the Group, and earn interest at the respective short-term
deposit rates. The weighted average effective interest rate of short-term deposits is 0.21% (2015: 0.16%) per annum.
Cash and bank balances are denominated in the following currencies:
Group Company
2016 2015 2016 2015
$’000 $’000 $’000 $’000
Singapore Dollars 19,292 19,849 6,594 10,508
Malaysian Ringgit 75 224 – –
Australian Dollars 40 74 – –
19,407 20,147 6,594 10,508