05 2017 285 per annum The maturity period of these deposits is 3 months 2017 3

05 2017 285 per annum the maturity period of these

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The effective interest rate of fixed deposits with licensed banks during the financial year is 3.05% (2017: 2.85%) per annum. The maturity period of these deposits is 3 months (2017: 3 months). Bank balances are deposits held at call with bank The currency exposure profile of deposits, cash and bank balances are disclosed in Note 30(i) to the financial statements.
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Harrisons Holdings (Malaysia) Berhad - Annual Report 2018 127 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 (CONTINUED) 24. TRADE AND OTHER PAYABLES Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Trade payables 156,739 135,479 - - Other payables 7,149 5,060 - - Refundable deposits 10,372 9,498 - - Accruals 18,089 18,886 753 691 ────── ────── ────── ────── 192,349 168,923 753 691 ══════ ══════ ══════ ══════ Credit terms of trade payables granted to the Group and the Company range from 5 days to 90 days (2017: 5 days to 90 days). 25. BORROWINGS Group 2018 2017 RM’000 RM’000 Bank overdrafts (Note 23) 396 4,496 Bankers’ acceptances 195,184 177,882 Revolving credit 9,660 5,500 ────── ────── 205,240 187,878 ══════ ══════ The unsecured bank overdrafts and short- term bankers’ acceptances have an average maturity period of on call to one month (2017: on call to one month). The revolving credit has a maturity period of 60 days (2017: 60 days). The average interest rates per annum of borrowings that were effective as at the reporting date are as follows: Group 2018 2017 % % Bank overdrafts 8.35 7.78 Bankers’ acceptances 4.23 3.91 Revolving credit 5.03 4.72 ══════ ═════
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Harrisons Holdings (Malaysia) Berhad - Annual Report 2018 128 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 (CONTINUED) 25. BORROWINGS (CONTINUED) The change in liabilities is disclosed as follows: Group 2018 2017 RM’000 RM’000 Bankers’ acceptances: As at 1 January 177,882 119,768 Drawdown 1,741,193 1,293,349 Repayments (1,723,891) (1,235,235) ──────── ──────── As at 31 December 195,184 177,882 ════════ ════════ Revolving credit: As at 1 January 5,500 9,500 Drawdown 39,660 37,095 Repayments (35,500) (41,095) ──────── ──────── As at 31 December 9,660 5,500 ════════ ════════
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Harrisons Holdings (Malaysia) Berhad - Annual Report 2018 129 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 (CONTINUED) 26. SHARE CAPITAL Group and Company 2018 2017 RM’000 RM’000 Authorised ordinary shares: At beginning of the financial year - 100,000 Abolishment of the concept of authorised share capital on 31 January 2017 - (100,000) ────── ────── At end of the financial year - - ══════ ══════ Issued and fully paid ordinary shares: At beginning of financial year 68,523 68,489 Transfer of share premium as a result of transition to no-par regime on 31 January 2017 (Note a) - 34 ────── ────── At end of the financial year 68,523 68,523 ══════ ══════ Note a: The Companies Act, 2016 which came into effect on 31 January 2017, abolished the concept of par or nominal value of share capital. There is no impact on the numbers of ordinary shares in issue or the relative entitlement of the members as a result of this transition.
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