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ENRICHING STAKEHOLDER ASPIRATIONS ENRICHING PERFORMANCE ENRICHING THE COMMUNITY ENRICHING ACCOUNTABILITY & INTEGRITY ENRICHING RESILIENCE & SUSTAINABLE GROWTH

notes to tHe financial statements

for the year ended 31 december 2023

22. DEPOSiTS AND PLACEMENTS AND CASH AND BANK BALANCES

Group KWAP
31 December 31 December 31 December 31 December
2023 2022 2023 2022
RM’000 RM’000 RM’000 RM’000

Deposit And Placements With
Financial institutions
deposits and placements With
financial institutions With maturity
less than 3 months 2,800,541 9,331,415 2,800,541 9,331,415
deposits and placements With
financial institutions With maturity
more than 3 months - 132,303 - 132,303
2,800,541 9,463,718 2,800,541 9,463,718

Cash And Bank Balances 3,288,810 3,383,526 2,521,813 2,797,116

Group KWAP
31 December 31 December 31 December 31 December
2023 2022 2023 2022
RM’000 RM’000 RM’000 RM’000

Cash and Cash Equivalents
deposits and placements With
financial institutions With maturity
less than 3 months 2,800,541 9,331,415 2,800,541 9,331,415
cash and bank balances 3,288,810 3,383,526 2,521,813 2,797,116
6,089,351 12,714,941 5,322,354 12,128,531

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 (2022: 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 material accounting policies section.

there was no allowance for impairment loss during the year (2022: nil).

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