Page 201 - KWAP_AR2022

FoR BetteR RetuRns Annual Report 2022 199

notes to the
financial statements
for the year ended 31 december 2022

21. DEPOSITS AND PLACEMENTS AND CASH AND BANK BALANCES

Group KWAP
31 December 31 December 31 December 31 December
2022 2021 2022 2021
RM’000 RM’000 RM’000 RM’000

Deposit And Placements With
Financial Institutions
deposits and placements With financial
institutions With maturity less 3 months 9,331,415 7,494,501 9,331,415 7,494,501
deposits and placements With financial
institutions With maturity more than
3 months 132,303 39,884 132,303 39,884
9,463,718 7,534,385 9,463,718 7,534,385

Cash And Bank Balances 3,383,526 2,337,832 2,797,116 1,617,120

Group KWAP
31 December 31 December 31 December 31 December
2022 2021 2022 2021
RM’000 RM’000 RM’000 RM’000
Cash and Cash Equivalents
deposits and placements With financial
institutions With maturity less than
3 months 9,331,415 7,494,501 9,331,415 7,494,501
cash and bank balances 3,383,526 2,337,832 2,797,116 1,617,120

12,714,941 9,832,333 12,128,531 9,111,621

cash at bank earns interest at the floating rates based on the daily bank deposit rates. short term deposits are made
for varying short periods between one (1) day and three (3) months, based on the immediate cash requirements of the
group and of KWap, whereby interest is earned at the respective short-term deposit rates.
(a) Movements in the allowance for cash and cash equivalents

there was no allowance for impairment losses for cash and cash equivalents during the year (2021: nil).
(b) Impact of movements in the gross carrying amount on allowance for impairment losses

allowance for impairment losses reflected the ecl measured using the simplified approach under the mfrs 9,
as described in the significant accounting policies section.

there was no allowance for impairment loss during the year (2021: nil).